Corteva, Inc. $CTVA Shares Bought by Royal Bank of Canada

Royal Bank of Canada boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 202.1% in the first quarter, Holdings Channel reports. The fund owned 7,458,624 shares of the company’s stock after purchasing an additional 4,989,371 shares during the period. Royal Bank of Canada’s holdings in Corteva were worth $624,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of CTVA. Vanguard Group Inc. increased its stake in Corteva by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock valued at $5,398,392,000 after buying an additional 317,538 shares during the period. State Street Corp boosted its holdings in shares of Corteva by 3.7% in the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after acquiring an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after acquiring an additional 805,873 shares during the period. Harris Associates L P increased its stake in shares of Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after acquiring an additional 10,675,052 shares during the period. Finally, Northern Trust Corp raised its holdings in Corteva by 5.0% during the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock worth $786,385,000 after purchasing an additional 562,550 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE:CTVA opened at $88.98 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The firm has a market cap of $59.51 billion, a PE ratio of 52.34, a P/E/G ratio of 2.65 and a beta of 0.56. The firm has a 50 day simple moving average of $81.72 and a 200-day simple moving average of $79.26. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $89.75.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities analysts expect that Corteva, Inc. will post 3.76 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is presently 42.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTVA. Mizuho raised their price target on Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Corteva from $97.00 to $103.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Jefferies Financial Group lifted their price target on shares of Corteva from $95.00 to $97.00 in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.19.

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.