Mitsubishi UFJ Asset Management Co. Ltd. Acquires 48,477 Shares of Corteva, Inc. (NYSE:CTVA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 826,310 shares of the company's stock after purchasing an additional 48,477 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Corteva worth $39,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTVA. CVA Family Office LLC purchased a new position in Corteva in the fourth quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in Corteva in the fourth quarter valued at $27,000. NewSquare Capital LLC boosted its holdings in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company's stock valued at $28,000 after purchasing an additional 226 shares during the period. Glass Jacobson Investment Advisors llc raised its stake in Corteva by 234.3% in the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company's stock valued at $28,000 after buying an additional 389 shares in the last quarter. Finally, Naples Money Management LLC acquired a new stake in Corteva in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Performance

CTVA traded down $1.13 during trading on Thursday, hitting $56.00. The stock had a trading volume of 5,006,718 shares, compared to its average volume of 3,600,257. The firm has a market cap of $39.03 billion, a PE ratio of 72.29, a P/E/G ratio of 1.52 and a beta of 0.78. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $55.87 and a 200-day simple moving average of $51.09.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts expect that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Tuesday, June 4th. Corteva's dividend payout ratio is currently 81.01%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company's stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the company's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTVA. BNP Paribas upgraded Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a research note on Friday, February 2nd. Royal Bank of Canada lifted their target price on Corteva from $62.00 to $64.00 and gave the stock an "outperform" rating in a research report on Monday, May 6th. Mizuho lifted their target price on Corteva from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Wolfe Research assumed coverage on Corteva in a research report on Friday, March 1st. They set an "outperform" rating and a $67.00 target price on the stock. Finally, Loop Capital upgraded Corteva from a "hold" rating to a "buy" rating and lifted their target price for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.24.

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.