Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Corteva, Inc. (NYSE:CTVA)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Corteva, Inc. (NYSE:CTVA) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,223,296 shares of the company’s stock after purchasing an additional 121,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Corteva were worth $76,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CTVA. Allred Capital Management LLC grew its position in shares of Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after buying an additional 171 shares during the last quarter. Signaturefd LLC grew its position in shares of Corteva by 1.9% in the 1st quarter. Signaturefd LLC now owns 9,353 shares of the company’s stock valued at $589,000 after buying an additional 172 shares during the last quarter. NTV Asset Management LLC grew its position in shares of Corteva by 3.3% in the 1st quarter. NTV Asset Management LLC now owns 5,457 shares of the company’s stock valued at $343,000 after buying an additional 173 shares during the last quarter. Avantax Planning Partners Inc. grew its position in shares of Corteva by 4.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after buying an additional 178 shares during the last quarter. Finally, PFG Investments LLC grew its position in shares of Corteva by 1.4% in the 1st quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock valued at $810,000 after buying an additional 180 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Down 0.3%

Shares of NYSE CTVA opened at $70.87 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52 week low of $50.78 and a 52 week high of $77.41. The firm has a 50-day moving average price of $73.29 and a 200 day moving average price of $66.51. The stock has a market capitalization of $48.34 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 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 analysts’ expectations of $6.26 billion. During the same quarter last year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CTVA shares. Royal Bank Of Canada increased their target price on shares of Corteva from $74.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Citigroup increased their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley increased their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.50.

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.