Rakuten Investment Management Inc. Makes New $10.16 Million Investment in Corteva, Inc. $CTVA

Rakuten Investment Management Inc. purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 150,156 shares of the company’s stock, valued at approximately $10,155,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CTVA. Gladwyn Financial Advisors Inc. purchased a new stake in Corteva in the second quarter valued at approximately $25,000. True Wealth Design LLC increased its holdings in shares of Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after buying an additional 264 shares during the last quarter. Total Investment Management Inc. bought a new position in shares of Corteva in the 2nd quarter worth $27,000. Curat Global LLC raised its position in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corteva during the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CTVA. Mizuho increased their target price on Corteva from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Bank of America upped their price objective on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Rothschild & Co Redburn dropped their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Corteva from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.47.

Corteva Stock Performance

Shares of CTVA stock opened at $71.48 on Thursday. The company has a market capitalization of $48.30 billion, a P/E ratio of 30.55, a PEG ratio of 1.39 and a beta of 0.74. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a 50 day moving average price of $67.04 and a two-hundred day moving average price of $68.47.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm earned ($0.49) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.