Corteva, Inc. (NYSE:CTVA) Stake Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,158,450 shares of the company's stock after selling 52,556 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Corteva worth $65,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC acquired a new stake in Corteva in the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the 4th quarter worth about $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in Corteva during the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC bought a new position in Corteva in the 4th quarter worth about $34,000. Institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of NYSE:CTVA traded down $5.64 on Friday, reaching $55.66. 6,391,602 shares of the company traded hands, compared to its average volume of 3,244,036. The stock has a market capitalization of $38.02 billion, a PE ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company's 50 day moving average is $62.36 and its 200-day moving average is $60.26. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

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Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, BNP Paribas upgraded shares of Corteva to a "hold" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.06.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.