Tokio Marine Asset Management Co. Ltd. Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Tokio Marine Asset Management Co. Ltd. reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,214 shares of the company’s stock after selling 1,353 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Corteva were worth $1,208,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. WCM Investment Management LLC boosted 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 worth $341,590,000 after buying an additional 213,949 shares in the last quarter. 17 Capital Partners LLC acquired a new position in Corteva during the fourth quarter worth $1,649,000. Factory Mutual Insurance Co. raised its position in Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after acquiring an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised 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 acquiring an additional 68,593 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Corteva by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after acquiring an additional 31,171 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Friday, February 2nd. UBS Group reduced their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Trading Up 0.4 %

Shares of CTVA stock traded up $0.23 during trading hours on Friday, hitting $54.93. The company had a trading volume of 145,847 shares, compared to its average volume of 3,492,938. The company’s fifty day moving average is $55.28 and its 200 day moving average is $50.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.87. The stock has a market capitalization of $38.39 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business earned $0.16 earnings per share. Research analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

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.