67,504 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) during the third quarter, HoldingsChannel reports. The firm bought 67,504 shares of the company’s stock, valued at approximately $3,858,000.

A number of other institutional investors have also added to or reduced their stakes in CTVA. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Corteva during the third quarter worth about $28,000. Kathleen S. Wright Associates Inc. acquired a new stake in Corteva during the third quarter valued at approximately $29,000. JFS Wealth Advisors LLC boosted its holdings in Corteva by 60.5% during the third quarter. JFS Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $32,000 after purchasing an additional 214 shares in the last quarter. Coston McIsaac & Partners acquired a new stake in Corteva during the second quarter valued at approximately $33,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in Corteva by 454.5% during the first quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. 79.45% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

CTVA stock opened at $56.61 on Friday. The company has a 50 day moving average price of $61.79 and a 200 day moving average price of $62.17. The stock has a market capitalization of $40.34 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.80. Corteva, Inc. has a fifty-two week low of $50.03 and a fifty-two week high of $68.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 0.93.

Corteva (NYSE:CTVA – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Corteva had a net margin of 6.57% and a return on equity of 7.54%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Analysts forecast that Corteva, Inc. will post 2.89 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, February 28th. Corteva’s payout ratio is 38.22%.

Insider Buying and Selling at Corteva

In other Corteva news, CEO Charles V. Magro bought 40,000 shares of the company’s stock in a transaction on Monday, February 6th. The stock was bought at an average price of $60.64 per share, for a total transaction of $2,425,600.00. Following the transaction, the chief executive officer now owns 126,095 shares of the company’s stock, valued at approximately $7,646,400.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTVA shares. OTR Global downgraded Corteva to a “positive” rating in a report on Wednesday, March 8th. Bank of America raised Corteva from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $64.00 to $68.00 in a report on Wednesday, January 11th. KeyCorp reduced their target price on Corteva from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Morgan Stanley boosted their target price on Corteva from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, January 11th. Finally, Citigroup boosted their target price on Corteva from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $72.53.

About Corteva

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.