Amundi Has $183.06 Million Stock Holdings in Corteva, Inc. $CTVA

Key Points

• Amundi reduced its Corteva stake by 25.5% in the second quarter, selling 738,982 shares and retaining 2.16 million shares worth approximately $183.1 million, or 0.32% of the company.
• Wall Street’s consensus rating remains “Moderate Buy”, with 14 analysts rating Corteva a Buy and nine a Hold; the average price target is $91.50.
• Corteva beat quarterly EPS expectations, reporting $2.30 versus the $2.24 consensus, although revenue fell 1.2% year over year. The company also declared a quarterly dividend of $0.18 per share, equivalent to a 0.8% annualized yield.

Amundi trimmed its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 25.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,161,466 shares of the company's stock after selling 738,982 shares during the quarter. Amundi owned approximately 0.32% of Corteva worth $183,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EFG International AG acquired a new stake in Corteva in the 2nd quarter valued at about $25,000. Compass Financial Management LLC bought a new stake in Corteva in the second quarter valued at approximately $25,000. JPL Wealth Management LLC acquired a new stake in shares of Corteva in the third quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Corteva during the 4th quarter worth approximately $27,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Corteva during the 4th quarter worth approximately $28,000. Institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Oppenheimer raised their price target on Corteva from $89.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings lowered shares of Corteva from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Mizuho lifted their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Corteva in a research note on Friday, August 28th. Finally, Zacks Research cut shares of Corteva from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $91.50.

Corteva Stock Down 2.2%

Shares of CTVA opened at $85.95 on Wednesday. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $90.97. The firm's 50 day moving average is $83.53 and its 200-day moving average is $81.20. The stock has a market capitalization of $57.34 billion, a PE ratio of 56.92, a P/E/G ratio of 2.70 and a beta of 0.57. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.18% and a net margin of 5.66%.The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts forecast that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva's dividend payout ratio (DPR) is presently 47.68%.

About Corteva

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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