Corteva, Inc. (NYSE:CTVA) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,441 shares of the company’s stock after buying an additional 6,919 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $2,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Corteva during the first quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Corteva in the second quarter worth approximately $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva during the 2nd quarter worth approximately $43,000. Triad Wealth Partners LLC purchased a new stake in shares of Corteva in the 2nd quarter valued at approximately $45,000. Finally, Chilton Capital Management LLC raised its holdings in shares of Corteva by 354.7% in the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock valued at $52,000 after purchasing an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTVA shares. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.84.

Corteva Stock Performance

Shares of CTVA stock opened at $61.57 on Thursday. The stock’s 50-day moving average price is $57.56 and its 200 day moving average price is $55.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $42.91 billion, a PE ratio of 77.94, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $62.38.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s dividend payout ratio (DPR) is 86.08%.

Corteva 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.