Corteva, Inc. (NYSE:CTVA) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Corteva, Inc. (NYSE:CTVA) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 83,441 shares of the company’s stock after acquiring an additional 1,905 shares during the period. State of Alaska Department of Revenue’s holdings in Corteva were worth $5,249,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the 4th quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva in the 4th quarter valued at $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter worth $31,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter worth $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTVA shares. KeyCorp upped their price target on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Citigroup lifted their price target on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price objective on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Finally, Barclays lifted their target price on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.83.

Corteva Trading Down 0.1%

Shares of CTVA stock opened at $74.13 on Friday. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $74.84. The company has a market cap of $50.57 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $66.85 and a 200-day simple moving average of $62.81.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva’s payout ratio is 41.46%.

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.