Retirement Systems of Alabama Buys 612,485 Shares of Corteva, Inc. $CTVA

by · The Cerbat Gem

Retirement Systems of Alabama boosted its stake in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 418.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758,864 shares of the company’s stock after acquiring an additional 612,485 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Corteva worth $51,322,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares during the last quarter. Woodline Partners LP lifted its position in Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after buying an additional 16,644 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Corteva by 20.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock worth $394,000 after acquiring an additional 895 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Corteva in the 2nd quarter valued at about $233,000. Finally, Norden Group LLC raised its stake in shares of Corteva by 14.1% in the second quarter. Norden Group LLC now owns 6,182 shares of the company’s stock worth $461,000 after acquiring an additional 764 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $71.68 on Friday. The company has a fifty day moving average price of $67.26 and a 200 day moving average price of $68.40. The firm has a market cap of $48.44 billion, a PE ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.49) earnings per share. Research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

A number of analysts recently commented on CTVA shares. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Wells Fargo & Company cut their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a report on Thursday. Bank of America increased their price target on shares of Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.47.

Check Out Our Latest Report on Corteva

About Corteva

(Free Report)

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.

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