Pallas Capital Advisors LLC Takes Position in Corteva, Inc. $CTVA

Pallas Capital Advisors LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 55,763 shares of the company’s stock, valued at approximately $4,723,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. JPL Wealth Management LLC purchased a new position in Corteva during the third quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Corteva in the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Corteva in the fourth quarter worth $28,000. Cornerstone Financial Management LLC bought a new position in shares of Corteva during the fourth quarter valued at $29,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock valued at $29,000 after acquiring an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $75.73 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $81.78 and a 200-day moving average price of $80.09. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $90.97. The firm has a market capitalization of $50.53 billion, a PE ratio of 50.15, a P/E/G ratio of 2.35 and a beta of 0.57.

Corteva (NYSE:CTVA) last issued its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter last year, the company posted $2.20 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s dividend payout ratio is presently 47.68%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Citigroup boosted their price objective on shares of Corteva from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays increased their target price on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, CICC Research lifted their target price on Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.70.

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.