California Public Employees Retirement System Sells 9,796 Shares of Corteva, Inc. $CTVA

California Public Employees Retirement System cut its stake in Corteva, Inc. (NYSE:CTVA) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,345,578 shares of the company’s stock after selling 9,796 shares during the quarter. California Public Employees Retirement System’s holdings in Corteva were worth $112,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of Corteva during the third quarter valued at approximately $25,000. Westfuller Advisors LLC raised its position in Corteva by 2,764.3% in the 1st quarter. Westfuller Advisors LLC now owns 401 shares of the company’s stock valued at $34,000 after buying an additional 387 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Corteva during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust bought a new position in Corteva during the 4th quarter valued at $28,000. Finally, Cornerstone Financial Management LLC purchased a new position in Corteva during the 4th quarter worth $29,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.9%

CTVA stock opened at $87.42 on Friday. The stock has a market cap of $58.47 billion, a P/E ratio of 51.43, a P/E/G ratio of 2.67 and a beta of 0.56. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $80.86 and its two-hundred day simple moving average is $78.19. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $88.22.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.18 per share. The ex-dividend date was Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva’s dividend payout ratio is presently 42.35%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. BNP Paribas Exane raised their price target on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. CICC Research boosted their price target on shares of Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Oppenheimer upped their price objective on shares of Corteva from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group increased their price objective on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $88.95.

Corteva 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.