Corteva, Inc. (NYSE:CTVA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,274 shares of the company’s stock after selling 4,385 shares during the quarter. State of Alaska Department of Revenue’s holdings in Corteva were worth $5,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Brookstone Capital Management acquired a new position in shares of Corteva during the 1st quarter valued at $204,000. Azzad Asset Management Inc. ADV lifted its stake in shares of Corteva by 11.6% during the first quarter. Azzad Asset Management Inc. ADV now owns 47,997 shares of the company’s stock worth $2,768,000 after purchasing an additional 4,986 shares in the last quarter. Albion Financial Group UT boosted its position 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 buying an additional 220 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter valued at about $25,000. Finally, Norden Group LLC purchased a new stake in shares of Corteva during the 1st quarter valued at about $2,120,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Down 0.5 %

CTVA stock opened at $60.80 on Wednesday. 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, Inc. has a 1-year low of $43.22 and a 1-year high of $61.38. The firm has a fifty day moving average price of $57.41 and a two-hundred day moving average price of $55.24. The firm has a market cap of $42.38 billion, a price-to-earnings ratio of 76.96, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. Research analysts predict that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Corteva’s payout ratio is currently 86.08%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTVA shares. JPMorgan Chase & Co. decreased their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target for the company. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Finally, KeyCorp dropped their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $62.84.

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.