Perigon Wealth Management LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 16,010 shares of the company’s stock, valued at approximately $1,356,000.
Several other institutional investors and hedge funds also recently modified their holdings of CTVA. Harris Associates L P grew its stake in shares of Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after buying an additional 10,675,052 shares in the last quarter. Norges Bank acquired a new position in Corteva during the 4th quarter worth approximately $504,001,000. Royal Bank of Canada boosted its holdings in Corteva by 202.1% in the 1st quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock worth $624,362,000 after acquiring an additional 4,989,371 shares during the period. Bank of New York Mellon Corp purchased a new position in Corteva in the 2nd quarter worth approximately $392,447,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Corteva by 6,527.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company’s stock valued at $211,025,000 after acquiring an additional 3,100,709 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on CTVA shares. Royal Bank Of Canada lifted their price objective on shares of Corteva from $97.00 to $103.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Citigroup upped their target price on shares of Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. BNP Paribas Exane lifted their price target on shares of Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Corteva from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.
Corteva Stock Performance
Shares of CTVA opened at $77.97 on Wednesday. The business’s 50 day moving average is $81.84 and its two-hundred day moving average is $80.12. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97. The firm has a market cap of $52.02 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 2.35 and a beta of 0.57. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.
Corteva (NYSE:CTVA – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter last year, the company earned $2.20 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.
Corteva Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is 47.68%.
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.
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