Saudi Central Bank grew its position in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 88.4% during the second quarter, Holdings Channel reports. The firm owned 46,994 shares of the company’s stock after acquiring an additional 22,052 shares during the quarter. Saudi Central Bank’s holdings in Corteva were worth $3,980,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. Wellington Management Group LLP increased its stake in Corteva by 941.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock worth $644,720,000 after buying an additional 6,881,875 shares during the period. Rakuten Investment Management Inc. purchased a new stake in shares of Corteva during the second quarter worth $9,132,000. Kingsview Wealth Management LLC purchased a new position in Corteva in the second quarter valued at $1,093,000. Arbejdsmarkedets Tillaegspension purchased a new stake in Corteva during the 4th quarter worth about $23,679,000. Finally, Jupiter Topco LLC purchased a new position in shares of Corteva in the 2nd quarter valued at about $544,246,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on CTVA shares. Weiss Ratings cut shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Mizuho boosted their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. CICC Research lifted their price target on Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Citigroup upped their price target on Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.
Corteva Price Performance
Corteva stock opened at $87.78 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The company has a market cap of $58.57 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.57. The business has a fifty day moving average of $83.42 and a two-hundred day moving average of $81.05.
Corteva (NYSE:CTVA – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the firm posted $2.20 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, 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. Stockholders of record on Tuesday, September 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva’s dividend payout ratio is currently 47.68%.
Corteva 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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