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

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,184 shares of the company’s stock after selling 1,601 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Corteva were worth $3,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva in the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC boosted its stake in shares of Corteva by 2,522.2% in 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 period. Albion Financial Group UT boosted its stake in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. boosted its stake in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 0.9 %

Shares of CTVA stock opened at $58.12 on Friday. The business’s fifty day moving average price is $55.33 and its 200 day moving average price is $54.97. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.08. The firm has a market capitalization of $40.51 billion, a PE ratio of 73.57, a P/E/G ratio of 1.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

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

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTVA. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Mizuho decreased their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

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.