State of Alaska Department of Revenue Sells 9,738 Shares of Corteva, Inc. (NYSE:CTVA)

State of Alaska Department of Revenue lessened its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,536 shares of the company's stock after selling 9,738 shares during the quarter. State of Alaska Department of Revenue's holdings in Corteva were worth $4,644,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CTVA. KBC Group NV increased its holdings in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after buying an additional 815,135 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Corteva in the fourth quarter valued at $1,514,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock valued at $265,966,000 after purchasing an additional 66,052 shares during the last quarter. Swedbank AB increased its holdings in shares of Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock valued at $39,624,000 after purchasing an additional 237,764 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock valued at $31,486,000 after purchasing an additional 488,181 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.5 %

Corteva stock traded down $0.95 during mid-day trading on Wednesday, hitting $62.02. 2,566,068 shares of the stock were exchanged, compared to its average volume of 3,752,006. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm's fifty day simple moving average is $60.24 and its two-hundred day simple moving average is $58.35. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. Analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, March 3rd. Corteva's payout ratio is currently 52.71%.

Corteva declared that its board has initiated a share buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently commented on CTVA. UBS Group decreased their price target 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. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Citigroup upped their price target on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.56.

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.