20,004 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,004 shares of the company's stock, valued at approximately $1,259,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Corteva by 7.2% in the 4th quarter. Private Advisor Group LLC now owns 30,527 shares of the company's stock valued at $1,739,000 after purchasing an additional 2,045 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Corteva by 22.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 5,725 shares of the company's stock valued at $326,000 after purchasing an additional 1,054 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in shares of Corteva by 9.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 4,909 shares of the company's stock valued at $280,000 after purchasing an additional 425 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in Corteva during the fourth quarter worth about $2,769,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

NYSE:CTVA traded down $1.08 during mid-day trading on Tuesday, hitting $73.37. 4,611,583 shares of the stock traded hands, compared to its average volume of 3,378,479. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $74.96. The company has a market cap of $50.05 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The business's 50-day moving average price is $67.70 and its 200 day moving average price is $63.09.

Corteva (NYSE:CTVA - Get Free Report) last announced 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. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. On average, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is presently 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a report on Friday, June 6th. UBS Group increased their target price on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their target price on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley lifted their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.08.

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.