PensionDanmark Pensionsforsikringsaktieselskab Trims Stake in Corteva, Inc. $CTVA

PensionDanmark Pensionsforsikringsaktieselskab cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 19.5% in the second quarter, HoldingsChannel reports. The firm owned 146,962 shares of the company’s stock after selling 35,576 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Corteva were worth $12,446,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $5,398,392,000 after buying an additional 317,538 shares during the period. State Street Corp lifted its stake in Corteva by 3.7% in the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 1,290,071 shares during the period. Franklin Resources Inc. increased its position in Corteva by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after purchasing an additional 805,873 shares during the period. Harris Associates L P increased its position in Corteva by 168.1% during the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Corteva by 5.0% in the 4th quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock valued at $786,385,000 after purchasing an additional 562,550 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA opened at $76.95 on Friday. The company has a 50 day moving average of $81.93 and a two-hundred day moving average of $79.82. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 50.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s dividend payout ratio is currently 47.68%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTVA. Bank of America increased their price objective on shares of Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. BNP Paribas Exane upped their target price on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.70.

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.