Westpac Banking Corp Decreases Holdings in Corteva, Inc. $CTVA

Westpac Banking Corp trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 41.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,415 shares of the company’s stock after selling 6,646 shares during the period. Westpac Banking Corp’s holdings in Corteva were worth $788,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Woodline Partners LP raised its holdings in shares of Corteva by 40.3% in the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after purchasing an additional 16,644 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Corteva by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock valued at $191,000 after purchasing an additional 980 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock valued at $526,000 after purchasing an additional 181 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Corteva during the second quarter valued at $1,464,000. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

NYSE:CTVA opened at $88.56 on Thursday. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $88.57. The stock’s fifty day moving average price is $81.13 and its two-hundred day moving average price is $78.69. 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 company has a market cap of $59.23 billion, a P/E ratio of 52.09, a P/E/G ratio of 2.64 and a beta of 0.56.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts expect that Corteva, Inc. will post 3.75 EPS for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s payout ratio is presently 42.35%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Morgan Stanley increased their price target on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings raised Corteva from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Citigroup boosted their price objective on Corteva from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.90.

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.