Clifford Swan Investment Counsel LLC Cuts Stake in Corteva, Inc. $CTVA

Key Points

• Clifford Swan Investment Counsel reduced its Corteva stake by 2.6% in the second quarter, selling 13,178 shares and retaining 488,361 shares valued at approximately $41.4 million. Institutional investors and hedge funds collectively own 81.54% of Corteva.
• Analysts remain broadly positive, with 14 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $91.50. Recent target increases included JPMorgan to $83, Morgan Stanley to $95, and Bank of America to $96.
• Corteva reported quarterly EPS of $2.30, exceeding estimates of $2.24, although revenue of $6.38 billion fell short of expectations and declined 1.2% year over year. The company also announced a quarterly dividend of $0.18 per share, or $0.72 annualized, representing a 0.8% yield.

Clifford Swan Investment Counsel LLC cut its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,361 shares of the company's stock after selling 13,178 shares during the quarter. Corteva makes up approximately 1.3% of Clifford Swan Investment Counsel LLC's portfolio, making the stock its 16th largest holding. Clifford Swan Investment Counsel LLC owned approximately 0.07% of Corteva worth $41,359,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Corteva in the second quarter valued at approximately $4,560,180,000. Harris Associates L P increased its position in shares of Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock worth $1,141,268,000 after purchasing an additional 10,675,052 shares in the last quarter. Norges Bank purchased a new stake in shares of Corteva during the fourth quarter worth approximately $504,001,000. Wellington Management Group LLP raised its stake in Corteva by 941.7% in the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company's stock valued at $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in Corteva in the 2nd quarter valued at $544,246,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Corteva from $77.00 to $83.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Morgan Stanley boosted their price target on shares of Corteva from $84.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Corteva in a research note on Friday. Bank of America raised their target price on shares of Corteva from $90.00 to $96.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Oppenheimer boosted their target price on Corteva from $89.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.50.

Corteva Stock Up 1.0%

CTVA stock opened at $84.74 on Tuesday. The firm has a market cap of $56.54 billion, a PE ratio of 56.12, a PEG ratio of 2.58 and a beta of 0.57. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The firm's 50 day moving average price is $82.81 and its 200-day moving average price is $80.66.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Dividend Announcement

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