Clearbridge Investments LLC Reduces Stake in Corteva, Inc. $CTVA

Clearbridge Investments LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,645,042 shares of the company’s stock after selling 210,841 shares during the quarter. Clearbridge Investments LLC’s holdings in Corteva were worth $110,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Norges Bank bought a new stake in shares of Corteva in the fourth quarter valued at approximately $504,001,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Corteva by 6,527.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company’s stock valued at $211,025,000 after purchasing an additional 3,100,709 shares during the period. Perpetual Ltd raised its position in shares of Corteva by 78,688.5% in the fourth quarter. Perpetual Ltd now owns 2,615,779 shares of the company’s stock valued at $175,336,000 after purchasing an additional 2,612,459 shares during the period. Amundi raised its position in shares of Corteva by 125.3% in the third quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after purchasing an additional 1,899,248 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Corteva by 423.6% in the third quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock valued at $117,550,000 after purchasing an additional 1,406,199 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTVA. Mizuho boosted their price target on shares of Corteva from $82.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. CICC Research boosted their price target on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on shares of Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Rothschild & Co Redburn boosted their price target on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Argus boosted their price target on shares of Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

Corteva Stock Performance

Corteva stock opened at $76.04 on Tuesday. The firm’s 50 day simple moving average is $81.03 and its 200 day simple moving average is $75.09. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $50.86 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. The business 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts expect 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 Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Corteva’s dividend payout ratio is 42.35%.

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.