Mirae Asset Global Investments Co. Ltd. Acquires 18,984 Shares of Corteva, Inc. (NYSE:CTVA)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 46.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,425 shares of the company's stock after acquiring an additional 18,984 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Corteva were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. Hager Investment Management Services LLC bought a new position in shares of Corteva in the fourth quarter worth $27,000. Capital Advisors Ltd. LLC increased its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after purchasing an additional 174 shares during the period. First Financial Corp IN bought a new position in shares of Corteva in the fourth quarter worth $35,000. Albion Financial Group UT increased its holdings in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company's stock worth $35,000 after purchasing an additional 321 shares during the period. Finally, Brown Lisle Cummings Inc. increased its holdings in shares of Corteva by 159.6% in the fourth quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company's stock worth $42,000 after purchasing an additional 450 shares during the period. Institutional investors own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTVA. 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 report on Wednesday, January 29th. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Barclays upped their price target 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. Finally, Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of "Moderate Buy" and a consensus price target of $67.56.

Corteva Trading Down 1.5 %

Shares of Corteva stock traded down $0.95 during trading on Wednesday, reaching $62.02. 2,566,068 shares of the stock were exchanged, compared to its average volume of 3,752,006. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average is $60.24 and its 200 day moving average is $58.35. The firm has a market cap of $42.63 billion, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities research analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva declared that its board has initiated a share buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Monday, March 3rd. Corteva's payout ratio is currently 52.71%.

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.