Sterling Capital Management LLC Sells 17,788 Shares of Corteva, Inc. $CTVA

Sterling Capital Management LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 42.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,393 shares of the company’s stock after selling 17,788 shares during the period. Sterling Capital Management LLC’s holdings in Corteva were worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTVA. Drummond Knight Asset Management Pty Ltd bought a new stake in Corteva during the 4th quarter worth about $25,713,000. Avior Wealth Management LLC raised its stake in shares of Corteva by 464.7% in the fourth quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock worth $2,205,000 after acquiring an additional 27,075 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in shares of Corteva in the fourth quarter worth about $23,679,000. Squarepoint Ops LLC lifted its position in shares of Corteva by 423.6% during the third quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock worth $117,550,000 after purchasing an additional 1,406,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Corteva by 23.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company’s stock worth $7,378,000 after purchasing an additional 20,957 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.0%

Shares of NYSE CTVA opened at $82.60 on Monday. 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 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 current ratio of 1.47 and a quick ratio of 1.03. The company’s 50 day simple moving average is $79.38 and its 200 day simple moving average is $76.28.

Corteva (NYSE:CTVA) last released its 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. The firm had revenue of $4.91 billion during 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 business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts predict that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s payout ratio is 42.35%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTVA. Berenberg Bank raised their price target on shares of Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group increased their price objective on Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company lifted their target price on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. BNP Paribas Exane boosted their target price on Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group upped their price target on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.81.

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.