Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Corteva, Inc. $CTVA

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Corteva, Inc. (NYSE:CTVA) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,315,097 shares of the company’s stock after acquiring an additional 91,801 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Corteva were worth $98,014,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Peak Financial Advisors LLC purchased a new position in shares of Corteva during the 2nd quarter worth $505,000. Cary Street Partners Financial LLC increased its stake in shares of Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments raised its holdings in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares during the period. Goldman Sachs Group Inc. lifted its position in Corteva by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after purchasing an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its position in Corteva by 70.3% during the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after purchasing an additional 67,869 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Up 1.4%

Shares of CTVA opened at $64.05 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.23. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a 50 day simple moving average of $66.41 and a two-hundred day simple moving average of $69.45. The firm has a market cap of $43.49 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.42 and a beta of 0.81.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.18 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent research reports. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. Wolfe Research lifted their price target on shares of Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research note on Monday, September 15th. Finally, Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Fifteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.35.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

About Corteva

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.