ABN Amro Investment Solutions Sells 93,474 Shares of Corteva, Inc. $CTVA

Key Points

• ABN Amro Investment Solutions cut its Corteva stake by 59.4% in the first quarter, selling 93,474 shares and leaving it with 63,821 shares valued at about $5.34 million.
• Wall Street sentiment remains positive, with several analysts raising price targets; the stock currently carries a consensus rating of “Moderate Buy” and a target price of $89.90.
• Corteva reported solid quarterly results, beating EPS and revenue estimates, and it also paid a quarterly dividend of $0.18 per share, implying a 0.8% annualized yield.

ABN Amro Investment Solutions decreased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 59.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,821 shares of the company's stock after selling 93,474 shares during the quarter. ABN Amro Investment Solutions' holdings in Corteva were worth $5,342,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Corteva during the 4th quarter worth about $25,713,000. Arbejdsmarkedets Tillaegspension acquired a new position in Corteva in the 4th quarter valued at about $23,679,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Corteva by 23.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company's stock valued at $7,378,000 after buying an additional 20,957 shares during the last quarter. Leonteq Securities AG bought a new position in Corteva in the 4th quarter valued at about $2,350,000. Finally, Brandes Investment Partners LP lifted its position in Corteva by 1.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock worth $155,009,000 after acquiring an additional 24,985 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price objective on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Jefferies Financial Group boosted their price target on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Morgan Stanley upped their price objective on Corteva from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Finally, BNP Paribas Exane boosted their target price on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.90.

Corteva Price Performance

Shares of NYSE:CTVA opened at $88.56 on Thursday. The firm has a 50 day moving average of $81.13 and a 200-day moving average of $78.69. The stock has a market capitalization of $59.23 billion, a PE ratio of 52.09, a PEG ratio of 2.64 and a beta of 0.56. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $88.57.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business posted $1.13 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts predict that Corteva, Inc. will post 3.75 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Corteva's payout ratio is currently 42.35%.

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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