Corteva, Inc. (NYSE:CTVA) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,139 shares of the company's stock after selling 4,557 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Corteva were worth $8,324,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Citigroup raised their target price on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. BNP Paribas raised Corteva to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada increased their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.00.

Remove Ads

Corteva Price Performance

Shares of NYSE CTVA traded down $0.16 during mid-day trading on Tuesday, reaching $61.91. The company's stock had a trading volume of 2,565,179 shares, compared to its average volume of 3,046,714. The stock has a 50-day moving average of $62.50 and a two-hundred day moving average of $59.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market capitalization of $42.44 billion, a P/E ratio of 47.99, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is currently 52.71%.

Insider Buying and Selling at Corteva

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

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.