Corteva, Inc. $CTVA Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,717,821 shares of the company's stock after acquiring an additional 128,810 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of Corteva worth $394,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CTVA. JPL Wealth Management LLC acquired a new position in Corteva in the 3rd quarter valued at about $25,000. Westfuller Advisors LLC lifted its holdings in Corteva by 2,764.3% during the 1st quarter. Westfuller Advisors LLC now owns 401 shares of the company's stock worth $34,000 after buying an additional 387 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Corteva in the fourth quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Corteva during the fourth quarter worth about $28,000. Finally, Cornerstone Financial Management LLC acquired a new position in Corteva during the 4th quarter worth approximately $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTVA. Oppenheimer upped their price target on Corteva from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corteva from $90.00 to $100.00 in a research report on Monday, May 11th. Rothschild & Co Redburn upped their price objective on shares of Corteva from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Berenberg Bank boosted their target price on Corteva from $68.00 to $78.00 and gave the company a "hold" rating in a report on Thursday, March 26th. Finally, Royal Bank Of Canada upped their target price on Corteva from $95.00 to $97.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.95.

Corteva Price Performance

Corteva stock opened at $87.42 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The business has a 50 day simple moving average of $80.86 and a 200-day simple moving average of $78.19. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $88.22. The stock has a market capitalization of $58.47 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current 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 dividend of $0.18 per share. The ex-dividend date was Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva's payout ratio is presently 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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