New York State Teachers Retirement System Lowers Holdings in Corteva, Inc. $CTVA

New York State Teachers Retirement System lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.1% in the first quarter, HoldingsChannel reports. The fund owned 531,901 shares of the company’s stock after selling 22,543 shares during the quarter. New York State Teachers Retirement System’s holdings in Corteva were worth $44,525,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CTVA. Harris Associates L P boosted its position in shares of Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after acquiring an additional 10,675,052 shares during the last quarter. Norges Bank acquired a new position in Corteva during the fourth quarter worth approximately $504,001,000. Northwestern Mutual Wealth Management Co. increased its position in Corteva by 6,527.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company’s stock worth $211,025,000 after purchasing an additional 3,100,709 shares during the last quarter. Perpetual Ltd raised its stake in Corteva by 78,688.5% during the fourth quarter. Perpetual Ltd now owns 2,615,779 shares of the company’s stock worth $175,336,000 after purchasing an additional 2,612,459 shares during the period. Finally, Amundi boosted its holdings in shares of Corteva by 125.3% in the 3rd quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after purchasing an additional 1,899,248 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Corteva stock opened at $85.63 on Friday. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $85.95. The firm has a fifty day moving average of $79.80 and a 200-day moving average of $76.86. The firm has a market capitalization of $57.27 billion, a P/E ratio of 50.37, a PEG ratio of 2.62 and a beta of 0.56. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts predict that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva’s dividend payout ratio (DPR) is 42.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTVA shares. Morgan Stanley upped their price objective on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Mizuho lifted their target price on Corteva from $94.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer boosted their price target on Corteva from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Argus upped their price target on Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Finally, Citigroup raised their price objective on Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.90.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.