Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Stake in Corteva, Inc. $CTVA

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 142,638 shares of the company’s stock, valued at approximately $9,561,000.

Several other institutional investors have also bought and sold shares of the company. Drive Wealth Management LLC lifted its stake in Corteva by 3.8% in the fourth quarter. Drive Wealth Management LLC now owns 4,259 shares of the company’s stock valued at $285,000 after purchasing an additional 156 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its position in shares of Corteva by 2.9% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 5,686 shares of the company’s stock worth $381,000 after acquiring an additional 160 shares in the last quarter. Chesapeake Capital Corp IL lifted its position in shares of Corteva by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 18,035 shares of the company’s stock worth $1,209,000 after acquiring an additional 161 shares in the last quarter. Fox Run Management L.L.C. lifted its position in shares of Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock worth $227,000 after acquiring an additional 164 shares in the last quarter. Finally, IFG Advisory LLC lifted its position in shares of Corteva by 1.7% during the third quarter. IFG Advisory LLC now owns 9,764 shares of the company’s stock worth $660,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In other news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $76.55, for a total transaction of $636,207.05. Following the transaction, the insider directly owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTVA. The Goldman Sachs Group increased their target price on Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Berenberg Bank increased their price objective on Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, March 26th. Rothschild & Co Redburn increased their price objective on Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Jefferies Financial Group increased their price objective on Corteva from $95.00 to $97.00 in a research report on Thursday, May 7th. Finally, UBS Group increased their price objective on Corteva from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.14.

Corteva Stock Down 2.6%

CTVA opened at $78.93 on Wednesday. The stock has a market cap of $52.79 billion, a PE ratio of 46.43, a P/E/G ratio of 2.49 and a beta of 0.59. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $85.63. The business’s fifty day simple moving average is $81.24 and its 200 day simple moving average is $73.67.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. The business 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 firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, research analysts expect that Corteva, Inc. will post 3.7 earnings per share for the current fiscal year.

Corteva Announces Dividend

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 paid a $0.18 dividend. 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 currently 42.35%.

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.