California State Teachers Retirement System Purchases 86,896 Shares of Corteva, Inc. (NYSE:CTVA)

California State Teachers Retirement System boosted its position in Corteva, Inc. (NYSE:CTVA) by 6.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,470,176 shares of the company’s stock after acquiring an additional 86,896 shares during the quarter. California State Teachers Retirement System’s holdings in Corteva were worth $84,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its holdings in Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares in the last quarter. Norges Bank bought a new stake in Corteva during the 4th quarter worth approximately $265,298,000. Harris Associates L P increased its holdings in Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares in the last quarter. Glenview Capital Management LLC increased its holdings in Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after purchasing an additional 2,529,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Corteva by 19.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after purchasing an additional 2,141,428 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer upped their target price on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. KeyCorp upped their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. BMO Capital Markets increased their target price on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Finally, Royal Bank of Canada increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity at Corteva

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 1.0 %

CTVA traded up $0.57 on Wednesday, hitting $56.10. The company had a trading volume of 3,682,559 shares, compared to its average volume of 3,407,045. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The stock has a fifty day simple moving average of $53.63 and a 200-day simple moving average of $53.81. The firm has a market capitalization of $39.10 billion, a P/E ratio of 70.29, a P/E/G ratio of 1.50 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. As a group, equities analysts expect that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 81.01%.

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.