Axxcess Wealth Management LLC Buys 21,075 Shares of Corteva, Inc. $CTVA

Key Points

• Axxcess Wealth Management boosted its Corteva stake by 68.5% in the fourth quarter, buying 21,075 additional shares and bringing its total to 51,840 shares valued at about $3.48 million.
• Institutional ownership is heavy in Corteva, with 81.54% of the stock held by institutions; several large firms, including Vanguard and State Street, also increased their positions.
• Operational results were strong: Corteva recently beat quarterly earnings and revenue estimates, and analysts currently rate the stock a “Moderate Buy” with an average price target of $88.14.

Axxcess Wealth Management LLC grew its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 51,840 shares of the company's stock after acquiring an additional 21,075 shares during the quarter. Axxcess Wealth Management LLC's holdings in Corteva were worth $3,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Corteva by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company's stock worth $5,398,392,000 after buying an additional 317,538 shares during the last quarter. State Street Corp lifted its position in shares of Corteva by 3.6% during the 3rd quarter. State Street Corp now owns 35,280,805 shares of the company's stock worth $2,386,041,000 after buying an additional 1,230,074 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Corteva by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 18,731,627 shares of the company's stock worth $1,266,820,000 after buying an additional 1,051,389 shares during the last quarter. Northern Trust Corp lifted its position in shares of Corteva by 1.8% during the 3rd quarter. Northern Trust Corp now owns 11,169,284 shares of the company's stock worth $755,379,000 after buying an additional 194,728 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Corteva by 14.3% during the 3rd quarter. Legal & General Group Plc now owns 5,753,982 shares of the company's stock worth $389,142,000 after buying an additional 720,469 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTVA has been the subject of several recent analyst reports. Rothschild & Co Redburn upped their price objective on Corteva from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. downgraded Corteva from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $75.00 to $77.00 in a research report on Thursday, February 5th. Jefferies Financial Group upped their price objective on Corteva from $95.00 to $97.00 in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Finally, UBS Group upped their target price on Corteva from $88.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average target price of $88.14.

Corteva Price Performance

Shares of CTVA opened at $79.57 on Monday. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $85.63. The business has a 50-day simple moving average of $81.33 and a two-hundred day simple moving average of $74.04. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The stock has a market cap of $53.22 billion, a PE ratio of 46.81, a PEG ratio of 2.43 and a beta of 0.59.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva's dividend payout ratio is presently 42.35%.

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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