Sumitomo Mitsui Trust Holdings Inc. Has $155.04 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,688,324 shares of the company’s stock after selling 72,377 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.38% of Corteva worth $155,036,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CTVA. WCM Investment Management LLC raised its holdings in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after buying an additional 213,949 shares in the last quarter. Red Mountain Financial LLC acquired a new position in Corteva in the 4th quarter worth about $862,000. California State Teachers Retirement System boosted its stake in shares of Corteva by 15.1% during the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after purchasing an additional 181,883 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Corteva during the first quarter worth about $1,965,000. Finally, 17 Capital Partners LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $1,649,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE:CTVA traded down $0.19 on Wednesday, reaching $52.58. 321,724 shares of the company’s stock were exchanged, compared to its average volume of 3,545,341. The stock has a fifty day simple moving average of $54.68 and a 200-day simple moving average of $52.92. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market cap of $36.65 billion, a price-to-earnings ratio of 66.70, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTVA shares. OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Mizuho dropped their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Activity at Corteva

In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 over the last three months. 0.20% of the stock is owned by corporate insiders.

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.