California Public Employees Retirement System Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

California Public Employees Retirement System lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,323,315 shares of the company’s stock after selling 36,845 shares during the period. California Public Employees Retirement System owned about 0.19% of Corteva worth $63,413,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after buying an additional 213,949 shares during the last quarter. 17 Capital Partners LLC purchased a new position in shares of Corteva in the fourth quarter worth about $1,649,000. Factory Mutual Insurance Co. increased its stake in shares of Corteva by 10.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Corteva by 9.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after purchasing an additional 68,593 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Corteva by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after purchasing an additional 31,171 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTVA. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Wolfe Research began coverage on shares of Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price for the company. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.29.

Corteva Trading Down 0.1 %

Shares of Corteva stock opened at $54.70 on Friday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.87. The firm has a market cap of $38.23 billion, a PE ratio of 53.63, a PEG ratio of 1.43 and a beta of 0.77. 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 50 day simple moving average of $55.28 and a two-hundred day simple moving average of $50.43.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the business posted $0.16 earnings per share. Analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

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.