Wellington Management Group LLP Acquires 6,881,875 Shares of Corteva, Inc. $CTVA

Wellington Management Group LLP lifted its holdings in Corteva, Inc. (NYSE:CTVA – Free Report) by 941.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,612,704 shares of the company’s stock after purchasing an additional 6,881,875 shares during the period. Wellington Management Group LLP’s holdings in Corteva were worth $644,720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Brighton Jones LLC increased its stake in shares of Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after buying an additional 11,760 shares during the period. Woodline Partners LP lifted its stake in Corteva by 40.3% in the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after acquiring an additional 16,644 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Corteva by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after acquiring an additional 980 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Corteva by 2.6% during the 2nd quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock worth $526,000 after acquiring an additional 181 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Corteva during the 2nd quarter valued at about $1,464,000. 81.54% of the stock is owned by institutional investors.

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Corteva Stock Performance

CTVA stock opened at $84.00 on Friday. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 55.63, a PEG ratio of 2.58 and a beta of 0.57. 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 firm has a 50-day simple moving average of $82.69 and a two-hundred day simple moving average of $80.54.

Corteva (NYSE:CTVA – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s payout ratio is currently 47.68%.

Analyst Ratings Changes

CTVA has been the subject of several research reports. Weiss Ratings cut shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada reissued an “overweight” rating on shares of Corteva in a report on Friday. Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. BNP Paribas Exane boosted their price objective on shares of Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Finally, Mizuho upped their target price on Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Read Our Latest Stock Analysis on CTVA

About Corteva

(Free Report)

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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