Danske Bank A S Buys New Stake in Corteva, Inc. $CTVA

Danske Bank A S purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 834,615 shares of the company’s stock, valued at approximately $70,684,000. Danske Bank A S owned about 0.13% of Corteva as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of 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. BlackRock Inc. purchased a new stake in shares of Corteva in the second quarter worth about $4,560,180,000. State Street Corp grew its holdings in Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 1,290,071 shares during the period. Franklin Resources Inc. grew its holdings in 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. Finally, Harris Associates L P raised its position in Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after acquiring an additional 10,675,052 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Up 2.6%

CTVA stock opened at $77.97 on Wednesday. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $81.84 and a 200-day simple moving average of $80.12. The stock has a market capitalization of $52.02 billion, a P/E ratio of 51.64, a P/E/G ratio of 2.35 and a beta of 0.57.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period last year, the company posted $2.20 EPS. Corteva’s quarterly revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued 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 is presently 47.68%.

Analysts Set New Price Targets

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Jefferies Financial Group raised their price objective on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. BMO Capital Markets boosted their target price on shares of Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Barclays increased their price target on shares of Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Bank of America raised their price target on shares of Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.50.

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.