Corteva, Inc. (NYSE:CTVA) Stock Position Reduced by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,643 shares of the company’s stock after selling 3,628 shares during the quarter. Pacer Advisors Inc.’s holdings in Corteva were worth $3,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the last quarter. Albion Financial Group UT raised its stake in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its holdings in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA opened at $57.85 on Wednesday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.92. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $54.86 and a two-hundred day moving average of $54.82. The company has a market capitalization of $40.32 billion, a price-to-earnings ratio of 73.23, a PEG ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. As a group, analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho dropped their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Finally, OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.94.

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.