Coastal Bridge Advisors LLC Makes New Investment in Corteva, Inc. $CTVA

Coastal Bridge Advisors LLC bought a new position in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,575 shares of the company’s stock, valued at approximately $1,234,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Corteva in the 2nd quarter worth approximately $4,560,180,000. State Street Corp raised its stake in Corteva by 3.7% during the 4th quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after purchasing an additional 1,290,071 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after purchasing an additional 805,873 shares in the last quarter. Harris Associates L P boosted its position in shares of Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after buying an additional 10,675,052 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Corteva by 5.0% in the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock worth $786,385,000 after buying an additional 562,550 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CTVA shares. Morgan Stanley upped their price target on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. UBS Group decreased their price objective on Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, August 18th. BNP Paribas Exane lifted their target price on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 target price on shares of Corteva in a report on Monday, August 3rd. Finally, BMO Capital Markets increased their price target on shares of Corteva from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Corteva Trading Down 0.7%

NYSE CTVA opened at $82.27 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97. The firm’s fifty day simple moving average is $82.58 and its 200-day simple moving average is $80.52. The company has a market capitalization of $54.89 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio (DPR) is 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.