Meiji Yasuda Asset Management Co Ltd. Has $1.15 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Corteva, Inc. (NYSE:CTVA) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,291 shares of the company’s stock after buying an additional 869 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Corteva were worth $1,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Capital International Investors raised its holdings in Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares during the period. Harris Associates L P increased its stake in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares during the last quarter. Glenview Capital Management LLC boosted its stake in Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the period. Finally, Eminence Capital LP grew its holdings in Corteva by 73.1% in the 4th quarter. Eminence Capital LP now owns 3,796,403 shares of the company’s stock valued at $181,924,000 after buying an additional 1,603,058 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. KeyCorp reduced their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Finally, Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Trading Up 2.0 %

NYSE CTVA opened at $58.60 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $40.84 billion, a price-to-earnings ratio of 74.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.92. The business’s fifty day moving average is $54.59 and its 200 day moving average is $54.73.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is 86.08%.

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.