Corteva, Inc. (NYSE:CTVA) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,346 shares of the company's stock after selling 13,759 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Corteva were worth $13,690,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in Corteva during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the 4th quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter valued at $27,000. LGT Financial Advisors LLC acquired a new position in Corteva in the fourth quarter valued at $31,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter worth about $32,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA traded down $0.68 during mid-day trading on Thursday, hitting $69.64. The company's stock had a trading volume of 3,161,987 shares, compared to its average volume of 3,547,945. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $70.71. The firm has a market capitalization of $47.51 billion, a P/E ratio of 53.98, a P/E/G ratio of 1.68 and a beta of 0.72. The firm has a 50-day simple moving average of $62.97 and a 200 day simple moving average of $61.47.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company earned $0.89 earnings per share. Corteva's quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.98%. Corteva's payout ratio is currently 41.46%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp raised their price objective 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. The Goldman Sachs Group started coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price for the company. Barclays raised their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $70.50.

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.