Corteva, Inc. (NYSE:CTVA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 550,720 shares of the company's stock after selling 23,175 shares during the period. New York State Teachers Retirement System owned 0.08% of Corteva worth $31,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hager Investment Management Services LLC purchased a new stake in shares of Corteva during the fourth quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the 4th quarter valued at about $32,000. Capital Advisors Ltd. LLC increased its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after purchasing an additional 174 shares during the period. First Financial Corp IN purchased a new position in shares of Corteva in the fourth quarter worth about $35,000. Finally, Albion Financial Group UT lifted its holdings in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company's stock worth $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Oppenheimer upped their price target on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Bank of America upped their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.73.

Corteva Price Performance

Corteva stock traded down $0.81 during midday trading on Wednesday, reaching $63.65. The company had a trading volume of 2,379,875 shares, compared to its average volume of 3,651,365. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The firm's fifty day simple moving average is $60.58 and its 200-day simple moving average is $58.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $43.75 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has authorized a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva's payout ratio is 52.71%.

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.