Teachers Retirement System of The State of Kentucky Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,277 shares of the company’s stock after selling 1,110 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Corteva were worth $2,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva during the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the 4th quarter worth about $27,000. Golden State Wealth Management LLC purchased a new position in shares of Corteva during the 4th quarter worth about $32,000. Finally, Centricity Wealth Management LLC bought a new position in Corteva during the 4th quarter valued at about $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTVA shares. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Oppenheimer lifted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, KeyCorp raised their target price on shares of Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given 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 an average target price of $68.13.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.9 %

NYSE CTVA opened at $61.19 on Thursday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a fifty day simple moving average of $60.82 and a two-hundred day simple moving average of $60.32. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market cap of $41.79 billion, a P/E ratio of 47.43, a P/E/G ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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 forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

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.