Korea Investment CORP Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Korea Investment CORP boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 20.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 610,748 shares of the company’s stock after acquiring an additional 104,992 shares during the quarter. Korea Investment CORP’s holdings in Corteva were worth $34,788,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the fourth quarter worth about $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $32,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at approximately $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of NYSE:CTVA opened at $61.08 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization 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. The company’s fifty day moving average price is $62.53 and its 200 day moving average price is $60.07.

Corteva (NYSE:CTVA) last posted its 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%. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTVA shares. Citigroup upped their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.