184,568 Shares in Corteva, Inc. $CTVA Purchased by SEB Asset Management AB

Key Points

• SEB Asset Management AB bought a new stake in Corteva during the first quarter, acquiring 184,568 shares valued at about $15.45 million.
• Corteva reported strong quarterly results, with EPS of $1.50 topping estimates and revenue of $4.91 billion, up 11% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $89.62 after several firms raised their targets.

SEB Asset Management AB acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 184,568 shares of the company's stock, valued at approximately $15,450,000.

Other large investors have also bought and sold shares of the company. Harris Associates L P grew 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 valued at $1,141,268,000 after buying an additional 10,675,052 shares during the last quarter. Norges Bank bought a new position in Corteva in the 4th quarter valued at approximately $504,001,000. Northwestern Mutual Wealth Management Co. boosted its stake in Corteva by 6,527.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company's stock valued at $211,025,000 after purchasing an additional 3,100,709 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Corteva by 78,688.5% in the 4th quarter. Perpetual Ltd now owns 2,615,779 shares of the company's stock worth $175,336,000 after purchasing an additional 2,612,459 shares in the last quarter. Finally, Amundi raised its stake in shares of Corteva by 125.3% in the third quarter. Amundi now owns 3,415,554 shares of the company's stock worth $219,620,000 after purchasing an additional 1,899,248 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Down 0.5%

Shares of Corteva stock opened at $86.85 on Tuesday. The company's fifty day simple moving average is $80.94 and its 200-day simple moving average is $78.40. The stock has a market capitalization of $58.09 billion, a PE ratio of 51.09, a P/E/G ratio of 2.67 and a beta of 0.56. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $88.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business posted $1.13 EPS. 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. As a group, equities analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva's payout ratio is currently 42.35%.

Analysts Set New Price Targets

CTVA has been the subject of several research analyst reports. Mizuho lifted their price objective on Corteva from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Argus lifted 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. Berenberg Bank increased their price objective on shares of Corteva from $68.00 to $78.00 and gave the company a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings upgraded shares of Corteva from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted 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. One 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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