Primecap Management Co. CA Takes Position in Corteva, Inc. $CTVA

Primecap Management Co. CA bought a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,164,210 shares of the company’s stock, valued at approximately $98,597,000. Primecap Management Co. CA owned about 0.17% of Corteva at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Corteva by 0.4% in the fourth 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. BlackRock Inc. acquired a new stake in shares of Corteva during the second quarter worth about $4,560,180,000. State Street Corp increased its position in shares of Corteva by 3.7% during 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 holdings in shares of Corteva by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after purchasing an additional 805,873 shares during the last quarter. Finally, Harris Associates L P lifted its holdings in shares of Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE CTVA opened at $83.18 on Wednesday. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 2.54 and a beta of 0.57. The business’s 50 day moving average is $82.39 and its two-hundred day moving average is $80.37. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $90.97. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07.

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

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is 47.68%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTVA shares. Bank of America boosted their price objective on Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Rothschild & Co Redburn lifted their target price on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Barclays upped their price target on shares of Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Mizuho increased their price target on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

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.