Asset Management One Co. Ltd. Sells 6,059 Shares of Corteva, Inc. (NYSE:CTVA)

Asset Management One Co. Ltd. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 264,269 shares of the company’s stock after selling 6,059 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Corteva were worth $15,126,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new position in Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $32,000. Capital Advisors Ltd. LLC boosted its position in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares in the last quarter. First Financial Corp IN acquired a new stake in Corteva in the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT boosted its position in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.8 %

CTVA opened at $64.00 on Friday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $43.99 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. The company has a fifty day moving average price of $60.39 and a two-hundred day moving average price of $58.47.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Analysts predict that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

Corteva announced that its board has approved a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTVA. Barclays raised their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Oppenheimer raised their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

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.