Public Employees Retirement Association of Colorado Sells 3,964 Shares of Corteva, Inc. (NYSE:CTVA)

Public Employees Retirement Association of Colorado decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 97,325 shares of the company’s stock after selling 3,964 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Corteva were worth $5,250,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in Corteva in the first quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the 1st quarter valued at about $25,000. Rise Advisors LLC grew its stake in shares of 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 acquiring an additional 454 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Corteva in the fourth quarter worth approximately $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva in the fourth quarter worth approximately $29,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CTVA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Stock Down 1.7 %

Shares of Corteva stock opened at $57.58 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 72.89, a PEG ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.92. The firm’s 50-day moving average is $54.68 and its two-hundred day moving average is $54.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. As a group, research analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.18%. Corteva’s dividend payout ratio is presently 86.08%.

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.