Oregon Public Employees Retirement Fund Acquires 18,694 Shares of Corteva, Inc. $CTVA

Oregon Public Employees Retirement Fund grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 31.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,634 shares of the company’s stock after acquiring an additional 18,694 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Corteva were worth $5,250,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Moody National Bank Trust Division lifted its position in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co increased its holdings in shares of Corteva by 2.2% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after buying an additional 150 shares during the last quarter. Empirical Finance LLC raised its position in shares of Corteva by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after buying an additional 153 shares in the last quarter. Exchange Capital Management Inc. lifted its holdings in shares of Corteva by 0.3% during the 2nd quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock worth $4,241,000 after acquiring an additional 161 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in shares of Corteva by 3.0% during the 2nd quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock worth $418,000 after acquiring an additional 164 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Thursday, October 2nd. Rothschild & Co Redburn cut their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Morgan Stanley set a $84.00 price objective on Corteva in a research report on Monday, September 15th. Wells Fargo & Company dropped their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.21.

Corteva Stock Down 2.1%

CTVA opened at $68.66 on Friday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $66.15 and its 200-day moving average price is $68.79. The company has a market cap of $46.39 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.41 and a beta of 0.74.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.49) EPS. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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

About Corteva

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.