Corteva, Inc. (NYSE:CTVA) Shares Purchased by Korea Investment CORP

Korea Investment CORP increased its holdings in Corteva, Inc. (NYSE:CTVA) by 20.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 610,748 shares of the company’s stock after buying an additional 104,992 shares during the quarter. Korea Investment CORP owned about 0.09% of Corteva worth $34,788,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Great Valley Advisor Group Inc. acquired a new position in shares of Corteva in the 3rd quarter valued at about $203,000. Fisher Asset Management LLC raised its position in Corteva by 12.9% during the third quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock valued at $532,000 after acquiring an additional 1,030 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Corteva by 7.7% in the third quarter. Independent Advisor Alliance now owns 7,862 shares of the company’s stock valued at $462,000 after acquiring an additional 565 shares during the period. FMR LLC boosted its position in Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after purchasing an additional 203,126 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of several analyst reports. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Oppenheimer increased their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $61.08 on Friday. The company has a market cap of $41.88 billion, a P/E ratio of 47.35, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company’s 50-day moving average price is $62.53 and its 200-day moving average price is $60.07. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

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.