Mirae Asset Global Investments Co. Ltd. Has $5.28 Million Position in Corteva, Inc. (NYSE:CTVA)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,092 shares of the company’s stock after selling 12,070 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $5,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CTVA. Kingsview Wealth Management LLC boosted its holdings in Corteva by 2.0% in the third quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock worth $438,000 after acquiring an additional 153 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in Corteva by 4.9% in the first quarter. Centaurus Financial Inc. now owns 3,867 shares of the company’s stock worth $233,000 after acquiring an additional 182 shares in the last quarter. Laidlaw Wealth Management LLC boosted its holdings in Corteva by 5.1% in the fourth quarter. Laidlaw Wealth Management LLC now owns 3,968 shares of the company’s stock worth $233,000 after acquiring an additional 194 shares in the last quarter. Arcataur Capital Management LLC boosted its holdings in Corteva by 2.4% in the third quarter. Arcataur Capital Management LLC now owns 8,598 shares of the company’s stock worth $440,000 after acquiring an additional 200 shares in the last quarter. Finally, Union Savings Bank boosted its holdings in Corteva by 58.5% in the third quarter. Union Savings Bank now owns 577 shares of the company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE:CTVA opened at $53.67 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The business has a fifty day simple moving average of $55.17 and a two-hundred day simple moving average of $50.20. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.06. The company has a market capitalization of $37.51 billion, a P/E ratio of 52.62, a P/E/G ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business posted $0.16 earnings per share. On average, analysts expect that Corteva, Inc. will post 2.86 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday. Wolfe Research started coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Royal Bank of Canada raised their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.05.

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.