Headlands Technologies LLC Buys Shares of 6,795 Corteva, Inc. (NYSE:CTVA)

Headlands Technologies LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,795 shares of the company’s stock, valued at approximately $326,000.

A number of other large investors have also modified their holdings of the business. WCM Investment Management LLC lifted its holdings in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the period. 17 Capital Partners LLC acquired a new position in shares of Corteva in the 4th quarter valued at $1,649,000. Factory Mutual Insurance Co. lifted its stake in shares of Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after purchasing an additional 68,593 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after purchasing an additional 31,171 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $54.92 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.87. The company’s fifty day moving average is $55.28 and its 200-day moving average is $50.46. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The firm has a market cap of $38.38 billion, a price-to-earnings ratio of 53.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business posted $0.16 EPS. Equities analysts expect that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Mizuho decreased their price target on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, Oppenheimer lifted their price objective on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $63.29.

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.