New York State Common Retirement Fund Increases Position in Corteva, Inc. (NYSE:CTVA)

New York State Common Retirement Fund boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 990,298 shares of the company's stock after acquiring an additional 52,661 shares during the period. New York State Common Retirement Fund owned 0.14% of Corteva worth $62,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after purchasing an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after acquiring an additional 1,354,418 shares during the last quarter. Capital World Investors boosted its position in shares of Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after acquiring an additional 12,381,436 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after acquiring an additional 608,898 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE:CTVA opened at $73.50 on Monday. The stock has a market cap of $50.14 billion, a P/E ratio of 44.82, a PEG ratio of 1.88 and a beta of 0.76. The stock has a 50 day simple moving average of $71.45 and a 200 day simple moving average of $64.70. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same period in the previous year, the firm earned $0.89 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

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

Analysts Set New Price Targets

CTVA has been the topic of several research reports. KeyCorp raised their price target on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. BMO Capital Markets lifted their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Oppenheimer reiterated an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.54.

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.

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