Resona Asset Management Co. Ltd. Has $16.88 Million Stake in Corteva, Inc. $CTVA

Resona Asset Management Co. Ltd. increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,584 shares of the company’s stock after purchasing an additional 8,606 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Corteva were worth $16,883,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Gladwyn Financial Advisors Inc. bought a new position in Corteva in the 2nd quarter valued at $25,000. Curat Global LLC lifted its stake in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the period. Maryland Capital Advisors Inc. bought a new position in Corteva in the second quarter valued at about $29,000. DHJJ Financial Advisors Ltd. boosted its holdings in Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after acquiring an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its position in Corteva by 61.5% in the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of Corteva 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 transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Corteva Trading Up 1.4%

CTVA opened at $64.05 on Friday. The firm’s fifty day moving average is $66.41 and its two-hundred day moving average is $69.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.23 and a current ratio of 1.58. The firm has a market cap of $43.49 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned ($0.49) EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTVA shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Oppenheimer restated an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a report on Friday. Argus lowered their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Finally, Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.71.

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.