Arizona State Retirement System Has $12.69 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Arizona State Retirement System raised its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,702 shares of the company's stock after purchasing an additional 4,352 shares during the quarter. Arizona State Retirement System's holdings in Corteva were worth $12,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Capital World Investors raised its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after acquiring an additional 12,381,436 shares during the period. Independent Franchise Partners LLP boosted its stake in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank acquired a new position in Corteva in the 4th quarter valued at $251,892,000. Franklin Resources Inc. increased its position in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Corteva by 69.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock worth $163,181,000 after buying an additional 1,172,110 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Royal Bank Of Canada increased their target price on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday. Oppenheimer restated an "outperform" rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Finally, Barclays upped their price objective on shares of Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.46.

Corteva Price Performance

Shares of Corteva stock traded down $0.47 during midday trading on Monday, hitting $73.10. 2,876,243 shares of the company traded hands, compared to its average volume of 3,753,670. The firm's fifty day moving average price is $71.45 and its 200-day moving average price is $64.70. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 1.88 and a beta of 0.76. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping 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%. The company's revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.93%. Corteva's dividend payout ratio is presently 41.46%.

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.