Corteva, Inc. (NYSE:CTVA) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 45.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,140 shares of the company's stock after acquiring an additional 20,251 shares during the quarter. Mizuho Securities USA LLC's holdings in Corteva were worth $3,710,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Corteva in the fourth quarter worth $161,052,000. Franklin Resources Inc. grew its stake in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. State Street Corp increased its holdings in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company's stock valued at $54,954,000 after buying an additional 596,073 shares in the last quarter. Finally, Dearborn Partners LLC grew its position in Corteva by 5,353.8% in the fourth quarter. Dearborn Partners LLC now owns 547,230 shares of the company's stock worth $31,170,000 after acquiring an additional 537,196 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. Barclays raised their price objective on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective for the company. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price target 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. Finally, KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

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Corteva Stock Down 0.3 %

Shares of CTVA stock traded down $0.19 during mid-day trading on Tuesday, hitting $61.88. The stock had a trading volume of 1,223,031 shares, compared to its average volume of 3,529,228. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm's 50-day moving average is $62.48 and its two-hundred day moving average is $59.95. The firm has a market capitalization of $42.42 billion, a P/E ratio of 47.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data 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%. On average, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.