California Public Employees Retirement System Sells 36,845 Shares of Corteva, Inc. (NYSE:CTVA)

California Public Employees Retirement System reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,323,315 shares of the company’s stock after selling 36,845 shares during the quarter. California Public Employees Retirement System’s holdings in Corteva were worth $63,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RWA Wealth Partners LLC bought a new position in shares of Corteva during the 4th quarter valued at approximately $204,000. Duality Advisers LP bought a new stake in Corteva in the fourth quarter worth $657,000. Handelsbanken Fonder AB lifted its position in Corteva by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 348,643 shares of the company’s stock worth $16,707,000 after buying an additional 6,680 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Corteva in the fourth quarter worth $32,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Corteva by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,356 shares of the company’s stock worth $3,515,000 after buying an additional 896 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

CTVA opened at $54.70 on Friday. The business’s 50-day moving average is $55.28 and its two-hundred day moving average is $50.43. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.87. 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 firm has a market capitalization of $38.23 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted 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. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Research analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wolfe Research assumed coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target for the company. KeyCorp raised their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Mizuho reduced their target price on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Company 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.