Nikko Asset Management Americas Inc. Cuts Stake in Corteva, Inc. (NYSE:CTVA)

Nikko Asset Management Americas Inc. decreased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 829,418 shares of the company's stock after selling 33,769 shares during the period. Nikko Asset Management Americas Inc. owned 0.12% of Corteva worth $39,746,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. WCM Investment Management LLC grew its holdings in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company's stock valued at $341,590,000 after purchasing an additional 213,949 shares during the period. 17 Capital Partners LLC bought a new stake in Corteva in the 4th quarter valued at about $1,649,000. Factory Mutual Insurance Co. lifted its holdings in Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company's stock valued at $25,520,000 after purchasing an additional 51,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock worth $39,794,000 after purchasing an additional 68,593 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Corteva by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company's stock worth $132,293,000 after purchasing an additional 31,171 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 0.8 %

NYSE:CTVA traded up $0.47 during trading hours on Friday, reaching $56.47. The company's stock had a trading volume of 5,282,049 shares, compared to its average volume of 3,618,558. The firm has a 50-day simple moving average of $55.90 and a 200-day simple moving average of $51.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The firm has a market capitalization of $39.36 billion, a price-to-earnings ratio of 70.89, a PEG ratio of 1.51 and a beta of 0.78.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, June 4th. Corteva's payout ratio is 81.01%.

Analysts Set New Price Targets

A number of analysts recently commented on CTVA shares. BMO Capital Markets raised their price objective on shares of Corteva from $64.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, May 3rd. BNP Paribas upgraded Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a research note on Friday, February 2nd. Wells Fargo & Company increased their price objective on Corteva from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, May 3rd. Oppenheimer upped their price target on Corteva from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.24.

Insider Activity

In related news, insider Samuel R. Eathington sold 31,686 shares of the business's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The sale was disclosed in a document filed with the SEC, which can be accessed 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 value of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,556 shares of company stock valued at $4,795,016. Insiders own 0.14% of the company's stock.

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.

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