Mufg Securities Americas Inc. Takes Position in Corteva, Inc. (NYSE:CTVA)

Mufg Securities Americas Inc. acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,147 shares of the company's stock, valued at approximately $578,000.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after acquiring an additional 288,885 shares in the last quarter. Wedmont Private Capital increased its position in Corteva by 16.5% during the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company's stock valued at $269,000 after buying an additional 668 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in Corteva by 2.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 11,723 shares of the company's stock valued at $668,000 after buying an additional 287 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Corteva by 4.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,288 shares of the company's stock worth $358,000 after acquiring an additional 244 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock valued at $31,486,000 after acquiring an additional 488,181 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. Citigroup increased their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. KeyCorp lifted their target price on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.50.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

Corteva Trading Up 0.3%

NYSE:CTVA traded up $0.19 on Monday, hitting $68.80. The stock had a trading volume of 4,995,283 shares, compared to its average volume of 3,298,578. The company has a fifty day moving average price of $61.61 and a two-hundred day moving average price of $60.98. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $46.93 billion, a price-to-earnings ratio of 53.33, a PEG ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.28.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. Equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.99%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Corteva 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.