Kentucky Retirement Systems Insurance Trust Fund Trims Position in Corteva, Inc. (NYSE:CTVA)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Corteva, Inc. (NYSE:CTVA) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,496 shares of the company’s stock after selling 1,984 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Corteva were worth $1,205,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Corteva during the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC raised its stake in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Corteva during the second quarter valued at approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva in the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in Corteva during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. UBS Group boosted their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. KeyCorp lowered their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.68.

Corteva Stock Down 3.8 %

Shares of NYSE:CTVA opened at $55.21 on Monday. The firm has a market capitalization of $37.95 billion, a P/E ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a 50 day moving average price of $58.34 and a 200-day moving average price of $55.69. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $63.75.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. Corteva’s dividend payout ratio (DPR) is 68.69%.

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.