Mizuho Securities Co. Ltd. Takes Position in Corteva, Inc. (NYSE:CTVA)

Mizuho Securities Co. Ltd. bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, Holdings Channel.com reports. The fund bought 2,200 shares of the company’s stock, valued at approximately $105,000.

A number of other large investors have also recently made changes to their positions in CTVA. Harris Associates L P purchased a new stake in shares of Corteva during the third quarter valued at $246,423,000. Van ECK Associates Corp lifted its stake in Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the period. Vanguard Group Inc. lifted its stake in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Corteva by 662.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock worth $73,591,000 after acquiring an additional 1,334,415 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Barclays upped their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Royal Bank of Canada boosted their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.29.

Corteva Stock Performance

NYSE CTVA traded down $0.01 during trading hours on Tuesday, reaching $55.19. The stock had a trading volume of 2,576,242 shares, compared to its average volume of 3,582,298. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $61.87. The stock has a fifty day moving average of $55.26 and a 200 day moving average of $50.37. The stock has a market cap of $38.57 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the firm posted $0.16 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.16%. Corteva’s dividend payout ratio is presently 62.75%.

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.