Corteva, Inc. $CTVA Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in Corteva, Inc. (NYSE:CTVA) by 7,664.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 139,830,304 shares of the company’s stock after buying an additional 138,029,377 shares during the quarter. California State Teachers Retirement System owned approximately 0.21% of Corteva worth $11,842,228,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Corteva by 941.7% in the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock worth $644,720,000 after buying an additional 6,881,875 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in Corteva during the 2nd quarter valued at about $9,132,000. Kingsview Wealth Management LLC acquired a new position in Corteva during the second quarter worth about $1,093,000. Arbejdsmarkedets Tillaegspension acquired a new position in Corteva during the fourth quarter worth about $23,679,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Corteva in the second quarter valued at about $544,246,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 2.2%

Shares of CTVA opened at $85.95 on Wednesday. The stock has a fifty day moving average of $83.53 and a two-hundred day moving average of $81.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The company has a market capitalization of $57.34 billion, a PE ratio of 56.92, a price-to-earnings-growth ratio of 2.70 and a beta of 0.57. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $90.97.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva’s dividend payout ratio is 47.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CTVA. Morgan Stanley raised their price objective on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Corteva in a research note on Monday, August 3rd. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Royal Bank Of Canada reissued an “overweight” rating on shares of Corteva in a research report on Friday, August 28th. Finally, Citigroup upped their price objective on Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $91.50.

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.