Canoe Financial LP Takes Position in Corteva, Inc. $CTVA

Canoe Financial LP purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 1st quarter, Holdings Channel reports. The fund purchased 1,285,193 shares of the company’s stock, valued at approximately $107,584,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Corteva by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock valued at $5,398,392,000 after acquiring an additional 317,538 shares in the last quarter. State Street Corp lifted its position in shares of 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 purchasing an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after purchasing an additional 805,873 shares in the last quarter. Harris Associates L P boosted its holdings in shares of Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Finally, Northern Trust Corp grew its position in Corteva by 5.0% during the fourth 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 owned by hedge funds and other institutional investors.

Corteva Trading Down 0.0%

NYSE:CTVA opened at $82.60 on Monday. The stock’s 50 day moving average price is $79.38 and its 200 day moving average price is $76.28. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $85.63. The company has a market capitalization of $55.24 billion, a P/E ratio of 48.59, a P/E/G ratio of 2.53 and a beta of 0.57. 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio (DPR) is currently 42.35%.

Analyst Ratings Changes

CTVA has been the topic of several research reports. CICC Research upped their price objective on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on shares of Corteva from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Jefferies Financial Group boosted their price target on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Argus upped their price target on shares of Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley increased their price objective on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.81.

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.