New York State Teachers Retirement System Sells 39,872 Shares of Corteva, Inc. (NYSE:CTVA)

New York State Teachers Retirement System lowered its stake in Corteva, Inc. (NYSE:CTVA) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,895 shares of the company’s stock after selling 39,872 shares during the quarter. New York State Teachers Retirement System’s holdings in Corteva were worth $33,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Anomaly Capital Management LP purchased a new stake in shares of Corteva during the second quarter worth about $188,578,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after purchasing an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after purchasing an additional 1,031,678 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CTVA shares. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their price target for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.84.

Corteva Trading Down 1.1 %

Shares of NYSE CTVA opened at $60.92 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $57.69 and a two-hundred day simple moving average of $55.32. The firm has a market cap of $42.46 billion, a PE ratio of 77.11, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $62.38.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the company posted $1.60 EPS. Corteva’s revenue was up 1.1% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio is presently 86.08%.

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.