Oregon Public Employees Retirement Fund Grows Stock Holdings in Corteva, Inc. $CTVA

Oregon Public Employees Retirement Fund grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 31.7% in the 3rd quarter, according to the company in its most recent Form 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 period. Oregon Public Employees Retirement Fund’s holdings in Corteva were worth $5,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Corteva during the 2nd quarter valued at about $434,220,000. Pacer Advisors Inc. lifted its holdings in Corteva by 4,007.1% in the 3rd quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after buying an additional 2,382,715 shares during the period. WCM Investment Management LLC grew its position in shares of Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after buying an additional 1,884,897 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Corteva by 1,365.9% during the second quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock valued at $134,882,000 after acquiring an additional 1,686,309 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Down 2.1%

NYSE:CTVA opened at $68.66 on Friday. The firm’s 50-day moving average price is $66.15 and its 200-day moving average price is $68.79. The company has a market capitalization of $46.39 billion, a PE ratio of 29.34, a P/E/G ratio of 1.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

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

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued 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 was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTVA. Oppenheimer reiterated an “outperform” rating and issued a $76.00 price target on shares of Corteva in a report on Friday, November 7th. Wolfe Research raised their target price on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. UBS Group cut their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

Corteva Company 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.