Commerce Bank bought a new stake in shares of Corteva, Inc. (NYSE:CTVA – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,497 shares of the company’s stock, valued at approximately $5,208,000.
Several other institutional investors and hedge funds have also made changes to their positions in CTVA. Elevation Wealth Partners LLC raised its holdings in shares of Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock worth $29,000 after purchasing an additional 261 shares during the last quarter. Clearstead Trust LLC acquired a new position in shares of Corteva during the second quarter valued at approximately $31,000. JPL Wealth Management LLC purchased a new stake in Corteva during the 3rd quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new stake in Corteva in the 2nd quarter valued at about $33,000. Finally, Westfuller Advisors LLC grew its holdings in Corteva by 2,764.3% in the 1st quarter. Westfuller Advisors LLC now owns 401 shares of the company’s stock valued at $34,000 after buying an additional 387 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CTVA. UBS Group lowered their price target on Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, August 18th. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. BMO Capital Markets increased their price target on shares of Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Barclays lifted their target price on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Oppenheimer lifted their target price on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.
Corteva Stock Performance
Shares of CTVA opened at $81.84 on Monday. The company has a 50-day simple moving average of $82.13 and a 200-day simple moving average of $80.26. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $54.60 billion, a PE ratio of 54.20, a P/E/G ratio of 2.51 and a beta of 0.57.
Corteva (NYSE:CTVA – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.
Corteva Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.9%. Corteva’s payout ratio is presently 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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