Kingsview Wealth Management LLC Reduces Stake in Corteva, Inc. $CTVA

Kingsview Wealth Management LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 75.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,479 shares of the company’s stock after selling 35,893 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Corteva were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Brighton Jones LLC grew its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Woodline Partners LP raised its stake in Corteva by 40.3% in the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after purchasing an additional 16,644 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Corteva by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after acquiring an additional 980 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Corteva by 2.6% during the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock worth $526,000 after purchasing an additional 181 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Corteva in the second quarter worth approximately $1,464,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTVA shares. JPMorgan Chase & Co. cut shares of Corteva from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $75.00 to $77.00 in a research report on Thursday, February 5th. BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Berenberg Bank lifted their price objective on Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, March 26th. Wall Street Zen cut Corteva from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Oppenheimer raised their price target on Corteva from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.67.

Corteva Price Performance

Shares of CTVA stock opened at $77.71 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $85.63. The firm has a market cap of $51.98 billion, a P/E ratio of 45.71, a P/E/G ratio of 2.39 and a beta of 0.59. The business’s 50 day moving average price is $81.32 and its 200-day moving average price is $74.68.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS 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 company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 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 Monday, June 1st. Corteva’s payout ratio is presently 42.35%.

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.