Corteva, Inc. (NYSE:CTVA) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 35.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,949 shares of the company's stock after selling 24,797 shares during the quarter. Pacer Advisors Inc.'s holdings in Corteva were worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sepio Capital LP grew its holdings in shares of Corteva by 3.2% during the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after buying an additional 166 shares in the last quarter. Allred Capital Management LLC grew its holdings in shares of Corteva by 3.2% during the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after buying an additional 171 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Corteva by 1.9% during the first quarter. Signaturefd LLC now owns 9,353 shares of the company's stock worth $589,000 after buying an additional 172 shares in the last quarter. NTV Asset Management LLC grew its holdings in shares of Corteva by 3.3% during the first quarter. NTV Asset Management LLC now owns 5,457 shares of the company's stock worth $343,000 after buying an additional 173 shares in the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in shares of Corteva by 4.1% during the first quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company's stock worth $286,000 after buying an additional 178 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 0.7%

CTVA stock traded up $0.50 during midday trading on Tuesday, reaching $72.90. 2,631,428 shares of the company's stock traded hands, compared to its average volume of 3,341,051. The company has a market capitalization of $49.73 billion, a P/E ratio of 44.45, a PEG ratio of 1.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The business has a 50-day moving average price of $72.98 and a two-hundred day moving average price of $65.99.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. Corteva's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.99%. Corteva's payout ratio is presently 41.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a report on Monday, March 31st. KeyCorp raised their target price on shares of Corteva from $72.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Royal Bank Of Canada raised their target price on shares of Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. UBS Group raised their target price on shares of Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, BMO Capital Markets raised their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.38.

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.