New York State Common Retirement Fund Purchases 477,468 Shares of Corteva, Inc. (NYSE:CTVA)

New York State Common Retirement Fund lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 72.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,139,909 shares of the company’s stock after acquiring an additional 477,468 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Corteva worth $54,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. RWA Wealth Partners LLC bought a new stake in Corteva in the 4th quarter worth approximately $204,000. Duality Advisers LP bought a new stake in Corteva in the 4th quarter worth approximately $657,000. Handelsbanken Fonder AB grew its position in Corteva by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 348,643 shares of the company’s stock worth $16,707,000 after purchasing an additional 6,680 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Corteva during the 4th quarter valued at $32,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Corteva by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,356 shares of the company’s stock valued at $3,515,000 after acquiring an additional 896 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $55.19 on Wednesday. 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 company has a market capitalization of $38.57 billion, a P/E ratio of 54.11, a P/E/G ratio of 1.45 and a beta of 0.77. The company’s 50-day simple moving average is $55.26 and its two-hundred day simple moving average is $50.37. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.87.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, February 29th. Corteva’s payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTVA. UBS Group lowered their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Barclays lifted their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Royal Bank of Canada lifted their target price on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva 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.