Kentucky Retirement Systems Insurance Trust Fund Sells 1,984 Shares of Corteva, Inc. (NYSE:CTVA)

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

Several other hedge funds have also added to or reduced their stakes in CTVA. Seelaus Asset Management LLC purchased a new position in Corteva in the third quarter worth about $247,000. Empirical Finance LLC increased its position in shares of Corteva by 2.0% during the third quarter. Empirical Finance LLC now owns 24,588 shares of the company’s stock valued at $1,446,000 after acquiring an additional 492 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Corteva in the 3rd quarter worth approximately $808,000. First Business Financial Services Inc. lifted its position in Corteva by 9.1% in the 3rd quarter. First Business Financial Services Inc. now owns 40,350 shares of the company’s stock valued at $2,372,000 after acquiring an additional 3,379 shares in the last quarter. Finally, Dearborn Partners LLC boosted its stake in Corteva by 47.8% during the 3rd quarter. Dearborn Partners LLC now owns 10,034 shares of the company’s stock valued at $590,000 after purchasing an additional 3,247 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. KeyCorp decreased their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. UBS Group increased their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Stock Performance

Shares of NYSE CTVA opened at $55.21 on Monday. The stock has a market cap of $37.95 billion, a PE ratio of 55.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75. The firm has a fifty day moving average price of $58.34 and a 200-day moving average price of $55.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Announces Dividend

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

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.