New York State Teachers Retirement System Has $31.64 Million Stake in Corteva, Inc. (NYSE:CTVA)

New York State Teachers Retirement System cut its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,352 shares of the company's stock after selling 22,529 shares during the period. New York State Teachers Retirement System owned 0.09% of Corteva worth $31,644,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Corteva during the third quarter valued at about $1,258,000. 17 Capital Partners LLC bought a new position in Corteva during the fourth quarter valued at about $1,649,000. Factory Mutual Insurance Co. boosted its stake in Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company's stock valued at $25,520,000 after buying an additional 51,500 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock valued at $39,794,000 after buying an additional 68,593 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Corteva by 206.0% during the fourth quarter. SG Americas Securities LLC now owns 31,875 shares of the company's stock valued at $1,527,000 after buying an additional 21,457 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Up 1.2 %

NYSE:CTVA traded up $0.67 during mid-day trading on Monday, reaching $57.52. 3,770,246 shares of the company's stock traded hands, compared to its average volume of 3,775,205. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.37. The company has a 50 day moving average price of $54.61 and a 200-day moving average price of $50.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The firm has a market capitalization of $40.20 billion, a price-to-earnings ratio of 56.39, a PEG ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the firm posted $0.16 EPS. On average, sell-side analysts predict that Corteva, Inc. will post 2.87 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. Corteva's dividend payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTVA shares. Oppenheimer raised their target price on Corteva from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. UBS Group reduced their price target on shares of Corteva from $65.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, January 11th. Loop Capital raised shares of Corteva from a "hold" rating to a "buy" rating and boosted their price objective for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Royal Bank of Canada increased their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Finally, Barclays lifted their target price on shares of Corteva from $50.00 to $55.00 and gave the company an "equal weight" rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.14.

About Corteva

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.