Storgate LLC Purchases New Holdings in Corteva, Inc. $CTVA

Storgate LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,299 shares of the company’s stock, valued at approximately $690,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Banco Santander S.A. grew its holdings in Corteva by 32.9% during the 4th quarter. Banco Santander S.A. now owns 238,792 shares of the company’s stock valued at $16,006,000 after purchasing an additional 59,128 shares during the last quarter. Cohen & Steers Inc. grew its holdings in Corteva by 16.2% during the 4th quarter. Cohen & Steers Inc. now owns 267,643 shares of the company’s stock valued at $17,940,000 after purchasing an additional 37,357 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in Corteva by 52.8% during the 4th quarter. Wealthspire Advisors LLC now owns 9,041 shares of the company’s stock valued at $606,000 after purchasing an additional 3,126 shares during the last quarter. Summit Financial LLC grew its holdings in Corteva by 9.6% during the 4th quarter. Summit Financial LLC now owns 9,234 shares of the company’s stock valued at $619,000 after purchasing an additional 807 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Corteva by 1.4% during the 4th quarter. Quadrant Capital Group LLC now owns 14,500 shares of the company’s stock valued at $972,000 after purchasing an additional 198 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CTVA shares. Morgan Stanley upped their price target on shares of Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Berenberg Bank upped their price target on shares of Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Weiss Ratings upgraded shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. CICC Research upped their price target on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada upped their price target on shares of Corteva from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Corteva Price Performance

Corteva stock opened at $76.14 on Friday. The stock has a market cap of $50.92 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 2.29 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $85.63. The firm has a 50-day moving average of $80.39 and a two-hundred day moving average of $75.31.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given 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 Monday, June 1st. Corteva’s payout ratio is 42.35%.

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.