Corteva, Inc. (NYSE:CTVA) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 374,486 shares of the company’s stock after selling 28,479 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Corteva worth $21,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. CVA Family Office LLC acquired a new stake in shares of Corteva during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in shares of Corteva in the 4th quarter valued at $27,000. Rise Advisors LLC lifted its stake in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in Corteva during the 4th quarter valued at about $28,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Down 0.8 %

CTVA stock traded down $0.42 during midday trading on Friday, reaching $54.78. 2,088,346 shares of the company were exchanged, compared to its average volume of 3,026,307. 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 $58.76. The stock’s 50-day simple moving average is $53.89 and its 200 day simple moving average is $53.37. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 69.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. On average, equities analysts forecast that Corteva, Inc. will post 2.79 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is 81.01%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group upped their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Oppenheimer raised their price target on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company lifted their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity

In other news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction 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 transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Titus sold 12,134 shares of the business’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 directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

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.