65,206 Shares in Corteva, Inc. $CTVA Acquired by Haverford Trust Co

Key Points

• Haverford Trust Co. acquired 65,206 Corteva shares worth approximately $5.52 million during the second quarter. Institutional investors collectively own 81.54% of Corteva’s outstanding stock.
• Corteva reported quarterly EPS of $2.30, exceeding estimates of $2.24, while revenue of $6.38 billion fell short of expectations and declined 1.2% year over year.
• The company announced a quarterly dividend of $0.18 per share, equivalent to an annualized $0.72 payout and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.50.

Haverford Trust Co bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 65,206 shares of the company's stock, valued at approximately $5,522,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Financial Management LLC acquired a new position in Corteva during the 2nd quarter worth about $25,000. JPL Wealth Management LLC acquired a new position in Corteva in the 3rd quarter valued at about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in Corteva during the fourth quarter worth about $28,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $29,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 3.0%

Shares of NYSE:CTVA opened at $81.84 on Friday. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $90.97. The company's 50 day moving average is $82.13 and its two-hundred day moving average is $80.21. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The company has a market cap of $54.60 billion, a PE ratio of 54.20, a P/E/G ratio of 2.51 and a beta of 0.57.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced 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. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva's dividend payout ratio (DPR) is 47.68%.

Analyst Upgrades and Downgrades

CTVA has been the subject of several recent research reports. BNP Paribas Exane lifted their price objective on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on shares of Corteva from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Jefferies Financial Group boosted their price target on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. UBS Group cut their price objective on Corteva from $89.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Zacks Research cut Corteva from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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