Norinchukin Bank The Has $2.63 Million Stock Holdings in Corteva, Inc. $CTVA

Key Points

• Norinchukin Bank increased its stake in Corteva, Inc. by 17.6%, acquiring an additional 6,267 shares, bringing the total holdings to 41,825 shares worth $2.63 million.
• Corteva recently announced a quarterly dividend increase from $0.17 to $0.18, representing a 1.0% yield and a payout ratio of 33.17%.
• Major investment firms have shown confidence in Corteva, with multiple upgrades and price target increases, indicating a consensus rating of "Moderate Buy" and an average target price of $80.25.

Norinchukin Bank The increased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 17.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,825 shares of the company's stock after purchasing an additional 6,267 shares during the period. Norinchukin Bank The's holdings in Corteva were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Pinney & Scofield Inc. acquired a new position in Corteva in the 4th quarter worth $27,000. LGT Financial Advisors LLC bought a new stake in Corteva during the 4th quarter worth about $31,000. Valley National Advisers Inc. lifted its position in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after buying an additional 243 shares in the last quarter. Richardson Capital Management LLC bought a new stake in Corteva during the 1st quarter worth about $37,000. Finally, von Borstel & Associates Inc. bought a new stake in Corteva during the 1st quarter worth about $44,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTVA has been the topic of several analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. BMO Capital Markets boosted their price target on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Corteva Price Performance

Corteva stock traded up $1.06 during mid-day trading on Wednesday, reaching $75.00. The company had a trading volume of 4,430,563 shares, compared to its average volume of 3,793,377. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $50.93 billion, a P/E ratio of 36.59, a P/E/G ratio of 1.68 and a beta of 0.75. The business has a fifty day simple moving average of $73.40 and a 200 day simple moving average of $67.23.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's payout ratio is 33.17%.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.