53,845,550 Shares in Corteva, Inc. $CTVA Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 53.85 million Corteva shares worth approximately $4.56 billion, giving it an 8.07% stake. Institutional investors collectively own 81.54% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds producing a consensus “Moderate Buy” rating and an average price target of $91.50.
• Corteva exceeded quarterly EPS expectations with $2.30 per share, though revenue fell 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share, representing a 0.9% yield.

BlackRock Inc. purchased a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,845,550 shares of the company's stock, valued at approximately $4,560,180,000. BlackRock Inc. owned about 8.07% of Corteva as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arbejdsmarkedets Tillaegspension purchased a new position in Corteva during the 4th quarter valued at about $23,679,000. Leonteq Securities AG acquired a new stake in Corteva during the 4th quarter valued at $2,350,000. Mirae Asset Global Investments Co. Ltd. increased its position in 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 buying an additional 20,957 shares in the last quarter. Brandes Investment Partners LP raised its stake in Corteva by 1.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock valued at $155,009,000 after purchasing an additional 24,985 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its stake in shares of Corteva by 178.9% during the fourth quarter. Twin Capital Management Inc. now owns 25,394 shares of the company's stock valued at $1,702,000 after buying an additional 16,288 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTVA shares. Zacks Research downgraded Corteva from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Rothschild & Co Redburn raised their price objective on shares of Corteva from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Citigroup upped their target price on shares of Corteva from $85.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. 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 report on Tuesday, July 14th. Finally, Morgan Stanley lifted their price target on Corteva from $84.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $91.50.

Corteva Stock Performance

CTVA stock opened at $77.97 on Wednesday. The firm has a 50 day moving average of $81.84 and a two-hundred day moving average of $80.12. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $90.97. The company has a market capitalization of $52.02 billion, a price-to-earnings ratio of 51.64, a P/E/G ratio of 2.35 and a beta of 0.57. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva's dividend payout ratio is presently 47.68%.

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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