Teacher Retirement System of Texas Has $8.33 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Teacher Retirement System of Texas lifted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 224.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,421 shares of the company's stock after buying an additional 91,589 shares during the quarter. Teacher Retirement System of Texas' holdings in Corteva were worth $8,333,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Oppenheimer reissued an "outperform" rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a report on Friday, May 9th. KeyCorp increased their price target on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, UBS Group increased their target price on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Corteva has an average rating of "Moderate Buy" and an average price target of $72.50.

Corteva Stock Down 0.7%

Corteva stock traded down $0.55 during mid-day trading on Tuesday, hitting $76.03. 898,701 shares of the company's stock were exchanged, compared to its average volume of 3,393,100. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $51.87 billion, a P/E ratio of 46.36, a P/E/G ratio of 1.97 and a beta of 0.76. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $77.41. The stock has a 50 day moving average of $70.40 and a two-hundred day moving average of $64.19.

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

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio is currently 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.