Retirement Systems of Alabama Sells 939 Shares of Corteva, Inc. $CTVA

Retirement Systems of Alabama lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,379 shares of the company’s stock after selling 939 shares during the quarter. Retirement Systems of Alabama’s holdings in Corteva were worth $10,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its position in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its position in shares of Corteva by 2.2% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after purchasing an additional 150 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares in the last quarter. Finally, Plancorp LLC boosted its position in shares of Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTVA. The Goldman Sachs Group cut their price objective on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. UBS Group dropped their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. BMO Capital Markets set a $86.00 price target on shares of Corteva in a research report on Monday, September 15th. Finally, Oppenheimer dropped their price target on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $79.65.

Corteva Price Performance

Corteva stock opened at $61.51 on Monday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company’s 50 day moving average price is $67.53 and its two-hundred day moving average price is $69.40. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.77 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.40 and a beta of 0.81.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the firm earned $1.83 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Corteva’s payout ratio is currently 35.12%.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.