Principal Financial Group Inc. Sells 12,422 Shares of Corteva, Inc. (NYSE:CTVA)

Principal Financial Group Inc. cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,559,222 shares of the company's stock after selling 12,422 shares during the period. Principal Financial Group Inc. owned 0.65% of Corteva worth $268,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTVA. Acadian Asset Management LLC bought a new position in Corteva in the 1st quarter worth $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva during the 2nd quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new position in Corteva in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 0.8 %

Corteva stock traded down $0.45 during trading hours on Friday, hitting $58.19. The company had a trading volume of 2,365,327 shares, compared to its average volume of 3,258,979. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market cap of $40.28 billion, a P/E ratio of 45.02, a P/E/G ratio of 1.76 and a beta of 0.77. The company has a 50-day moving average price of $58.14 and a two-hundred day moving average price of $55.55. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.75.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.69 billion. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, December 2nd. Corteva's dividend payout ratio (DPR) is 52.31%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Citigroup started coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a research note on Friday. Barclays boosted their price target on shares of Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Finally, UBS Group increased their price target on Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.47.

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.