Empowered Funds LLC purchased a new position in Corteva, Inc. (NYSE:CTVA – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 139,854 shares of the company’s stock, valued at approximately $11,844,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Corteva during the second quarter valued at $4,560,180,000. Harris Associates L P raised its stake in Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the last quarter. Norges Bank purchased a new position in Corteva in the 4th quarter valued at about $504,001,000. Jupiter Topco LLC purchased a new position in Corteva in the 2nd quarter valued at about $544,246,000. Finally, Bank of America Corp DE acquired a new stake in shares of Corteva during the 2nd quarter worth about $484,927,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CTVA has been the subject of a number of recent research reports. CICC Research lifted their price target on shares of Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price objective on shares of Corteva in a research note on Monday, August 3rd. Jefferies Financial Group lifted their target price on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. BNP Paribas Exane boosted their price target on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Finally, Barclays increased their price target on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.
Corteva Trading Up 1.9%
Shares of CTVA stock opened at $84.00 on Friday. The firm’s 50-day simple moving average is $82.69 and its 200-day simple moving average is $80.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97. The firm has a market cap of $56.04 billion, a P/E ratio of 55.63, a PEG ratio of 2.58 and a beta of 0.57.
Corteva (NYSE:CTVA – Get Free Report) last issued 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities analysts forecast that Corteva, Inc. will post 3.72 EPS for the current year.
Corteva Announces Dividend
The company also recently declared 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. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s payout ratio is 47.68%.
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.
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