Teachers Retirement System of The State of Kentucky Sells 3,538 Shares of Corteva, Inc. (NYSE:CTVA)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 57,785 shares of the company’s stock after selling 3,538 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Corteva were worth $3,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. Redmont Wealth Advisors LLC bought a new position in Corteva in the first quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in Corteva in the first quarter worth approximately $25,000. Rise Advisors LLC raised its stake in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares in the last quarter. Albion Financial Group UT raised its stake in 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 in the last quarter. Finally, Ironwood Wealth Management Inc. raised its stake in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is owned by insiders.

Corteva Stock Performance

NYSE:CTVA traded down $1.42 during mid-day trading on Friday, hitting $51.58. The company’s stock had a trading volume of 3,784,039 shares, compared to its average volume of 2,620,352. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. The stock has a market cap of $35.95 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 1.46 and a beta of 0.77. The business’s fifty day moving average is $53.48 and its two-hundred day moving average is $53.92.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Corteva, Inc. will post 2.73 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.32%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio is presently 81.01%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CTVA shares. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. Oppenheimer lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Canaccord Genuity Group lifted their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday. Finally, KeyCorp cut their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $62.60.

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.