Sompo Asset Management Co. Ltd. Sells 840 Shares of Corteva, Inc. (NYSE:CTVA)

Sompo Asset Management Co. Ltd. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,590 shares of the company’s stock after selling 840 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Corteva were worth $517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. &PARTNERS boosted its position in shares of Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares during the last quarter. Herr Investment Group LLC boosted its position in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Corteva by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after buying an additional 203 shares during the last quarter. Albion Financial Group UT boosted its position in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after buying an additional 227 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CTVA shares. KeyCorp dropped their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Mizuho dropped their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $61.67.

Corteva Stock Down 1.7 %

NYSE CTVA opened at $57.58 on Friday. The stock’s 50-day moving average price is $54.68 and its 200-day moving average price is $54.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.92. The company has a market capitalization of $40.13 billion, a P/E ratio of 72.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. On average, equities research analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

About Corteva

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.