Corteva, Inc. (NYSE:CTVA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 155,316 shares of the company’s stock after selling 5,168 shares during the period. Retirement Systems of Alabama’s holdings in Corteva were worth $7,443,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Northern Trust Corp boosted its position in shares of Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after buying an additional 327,321 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after buying an additional 2,545,570 shares in the last quarter. Van ECK Associates Corp raised its position in Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after buying an additional 3,366,106 shares during the period. Finally, WCM Investment Management LLC lifted its stake in Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets lifted their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday. Wolfe Research assumed coverage on shares of Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price for the company. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company boosted their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group cut their price target on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.38.

Corteva Stock Performance

Shares of NYSE CTVA opened at $57.16 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $60.57. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a market cap of $39.95 billion, a P/E ratio of 72.35, a P/E/G ratio of 1.49 and a beta of 0.78. The business’s 50 day moving average is $55.37 and its two-hundred day moving average is $50.66.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. On average, equities analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.12%. Corteva’s dividend payout ratio (DPR) is 81.01%.

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.