Corteva, Inc. $CTVA Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 551,389 shares of the company’s stock after acquiring an additional 23,548 shares during the period. New York State Teachers Retirement System owned about 0.08% of Corteva worth $37,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva during the second quarter worth about $25,000. True Wealth Design LLC boosted its holdings in Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after buying an additional 264 shares during the last quarter. Total Investment Management Inc. acquired a new stake in Corteva in the 2nd quarter worth about $27,000. Curat Global LLC increased its stake in Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at approximately $29,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTVA. Argus lowered their price target on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. Citigroup upgraded shares of Corteva from a “neutral” rating to a “positive” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Price Performance

NYSE:CTVA opened at $68.66 on Monday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $46.39 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.39 and a beta of 0.74. The stock’s fifty day moving average is $66.15 and its two-hundred day moving average is $68.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.49) EPS. Equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.