Kingsview Wealth Management LLC Takes Position in Corteva, Inc. $CTVA

Kingsview Wealth Management LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,909 shares of the company’s stock, valued at approximately $1,093,000.

A number of other hedge funds have also bought and sold shares of the company. Beacon Pointe Advisors LLC bought a new stake in shares of Corteva in the 2nd quarter worth about $3,317,000. Kimelman & Baird LLC bought a new position in Corteva during the 2nd quarter valued at about $563,000. Pin Oak Investment Advisors Inc. purchased a new stake in Corteva in the 2nd quarter worth about $48,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Corteva in the second quarter worth about $116,000. Finally, Rakuten Investment Management Inc. bought a new stake in Corteva in the second quarter worth about $9,132,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $84.00 on Friday. The firm has a 50 day moving average of $82.69 and a 200 day moving average of $80.54. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $56.04 billion, a price-to-earnings ratio of 55.63, a price-to-earnings-growth ratio of 2.58 and a beta of 0.57. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $90.97.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s payout ratio is currently 47.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CTVA shares. Morgan Stanley upped their target price on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Bank of America upped their price objective on Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 target price on shares of Corteva in a research report on Monday, August 3rd. Finally, Mizuho raised their price target on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.50.

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.