Westpac Banking Corp Acquires 8,803 Shares of Corteva, Inc. $CTVA

Westpac Banking Corp lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 121.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,061 shares of the company’s stock after acquiring an additional 8,803 shares during the period. Westpac Banking Corp’s holdings in Corteva were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Corteva by 9.1% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,674 shares of the company’s stock worth $112,000 after acquiring an additional 140 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of Corteva by 3.8% during the fourth quarter. Drive Wealth Management LLC now owns 4,259 shares of the company’s stock worth $285,000 after acquiring an additional 156 shares in the last quarter. Reynders McVeigh Capital Management LLC increased its position in shares of Corteva by 2.9% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 5,686 shares of the company’s stock worth $381,000 after acquiring an additional 160 shares in the last quarter. Chesapeake Capital Corp IL increased its position in shares of Corteva by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 18,035 shares of the company’s stock worth $1,209,000 after acquiring an additional 161 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock worth $227,000 after acquiring an additional 164 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Up 0.5%

CTVA opened at $77.93 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The stock has a market cap of $52.12 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 2.37 and a beta of 0.57. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $85.63. The company’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $74.84.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion for 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 company’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 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, June 1st. Corteva’s payout ratio is presently 42.35%.

Analysts Set New Price Targets

CTVA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $90.00 to $100.00 in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Citigroup boosted their price target on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. cut shares of Corteva from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $75.00 to $77.00 in a report on Thursday, February 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Corteva from $95.00 to $97.00 and gave the stock 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

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.