ExodusPoint Capital Management LP Takes $19.87 Million Position in Corteva, Inc. $CTVA

ExodusPoint Capital Management LP bought a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 296,395 shares of the company’s stock, valued at approximately $19,867,000.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC acquired a new position in shares of Corteva in the third quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Corteva in the fourth quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva in the third quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. increased its holdings in shares of Corteva by 90.6% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock valued at $30,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.5%

Shares of CTVA stock opened at $76.84 on Wednesday. The business’s fifty day moving average price is $80.02 and its 200 day moving average price is $75.52. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63. The firm has a market capitalization of $51.39 billion, a PE ratio of 45.20, a P/E/G ratio of 2.32 and a beta of 0.57. 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 (NYSE:CTVA) last announced its quarterly earnings data 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. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the company posted $1.13 earnings per share. Corteva’s quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, sell-side analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio is 42.35%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Weiss Ratings raised Corteva from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. BNP Paribas Exane boosted their target price on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Barclays boosted their target price on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group upped their price objective on Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Corteva Company 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.