Panagora Asset Management Inc. Buys 152,476 Shares of Corteva, Inc. $CTVA

Panagora Asset Management Inc. lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 16.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,057,560 shares of the company’s stock after acquiring an additional 152,476 shares during the quarter. Panagora Asset Management Inc.’s holdings in Corteva were worth $70,888,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Corteva by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock worth $5,398,392,000 after purchasing an additional 317,538 shares during the period. State Street Corp lifted its holdings in shares of 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 purchasing an additional 1,290,071 shares during the period. Franklin Resources Inc. lifted its holdings 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 purchasing an additional 805,873 shares during the period. Northern Trust Corp lifted its holdings in shares of Corteva by 1.8% during the third quarter. Northern Trust Corp now owns 11,169,284 shares of the company’s stock worth $755,379,000 after purchasing an additional 194,728 shares during the period. Finally, Morgan Stanley raised its position in shares of Corteva by 1.4% during the fourth quarter. Morgan Stanley now owns 8,931,814 shares of the company’s stock worth $598,700,000 after acquiring an additional 122,308 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays upped their target price on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group dropped their price target on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Argus upped their price objective on shares of Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Rothschild & Co Redburn increased their price objective on shares of Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Mizuho lifted their target price on shares of Corteva from $82.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.81.

Corteva Trading Down 0.0%

NYSE CTVA opened at $76.14 on Monday. The stock has a market capitalization of $50.92 billion, a P/E ratio of 44.79, a P/E/G ratio of 2.33 and a beta of 0.57. The business has a 50 day simple moving average of $80.39 and a 200 day simple moving average of $75.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. Corteva, Inc. has a one year low of $60.53 and a one year high of $85.63.

Corteva (NYSE:CTVA) last posted its quarterly 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 analysts’ expectations of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research 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. Investors of record on Monday, June 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio is currently 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.