SEB Asset Management AB Purchases Shares of 184,568 Corteva, Inc. $CTVA

SEB Asset Management AB purchased a new position in Corteva, Inc. (NYSE:CTVA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 184,568 shares of the company’s stock, valued at approximately $15,450,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Woodline Partners LP lifted its position in shares of 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 acquiring an additional 16,644 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Corteva by 62.1% in the second 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 period. Cresset Asset Management LLC boosted its stake in shares of Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock worth $526,000 after acquiring an additional 181 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Corteva during the second quarter worth about $1,464,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Down 0.5%

CTVA stock opened at $86.85 on Tuesday. The firm has a fifty day moving average price of $80.94 and a 200 day moving average price of $78.40. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $88.21. The firm has a market cap of $58.09 billion, a PE ratio of 51.09, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56. 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 (NYSE:CTVA) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Corteva’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. Sell-side analysts anticipate 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 was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 1st. Corteva’s dividend payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTVA shares. Morgan Stanley lifted 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. The Goldman Sachs Group increased their price objective on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Citigroup lifted their price objective on shares of Corteva from $83.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Berenberg Bank upped their target price on shares of Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $89.62.

Corteva 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.