State of Alaska Department of Revenue Has $5.35 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

State of Alaska Department of Revenue lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,739 shares of the company’s stock after selling 4,425 shares during the quarter. State of Alaska Department of Revenue’s holdings in Corteva were worth $5,347,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $25,000. Ironwood Wealth Management Inc. lifted its holdings in shares of Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Corteva during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is owned by corporate insiders.

Corteva Price Performance

NYSE CTVA opened at $52.48 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a market cap of $36.58 billion, a PE ratio of 66.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The firm’s 50-day simple moving average is $54.68 and its two-hundred day simple moving average is $52.92.

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, beating 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 company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Research analysts predict that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Oppenheimer increased their price target on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their target price on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Canaccord Genuity Group upped their price objective on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $63.00.

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.