Corteva, Inc. $CTVA Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments reduced its Corteva stake by 5.5% in the second quarter, selling 12,221 shares and retaining 210,056 shares valued at approximately $17.8 million. Institutional investors and hedge funds collectively own 81.54% of the stock.
• Analyst sentiment remains favorable, with 14 Buy ratings and nine Holds, producing a “Moderate Buy” consensus and an average price target of $91.50, above Corteva’s reported opening price of $84.43.
• Corteva beat quarterly earnings expectations with EPS of $2.30 versus the $2.24 consensus, although revenue fell 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share, equivalent to a 0.9% annualized yield.

Tidal Investments LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,056 shares of the company's stock after selling 12,221 shares during the quarter. Tidal Investments LLC's holdings in Corteva were worth $17,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cidel Asset Management Inc. grew its stake in Corteva by 4.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 5,331 shares of the company's stock worth $451,000 after buying an additional 221 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Corteva by 3.2% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,762 shares of the company's stock valued at $403,000 after buying an additional 147 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Corteva by 26.1% in the second quarter. NewEdge Advisors LLC now owns 51,162 shares of the company's stock valued at $4,333,000 after buying an additional 10,588 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Corteva by 77.8% during the second quarter. Squarepoint Ops LLC now owns 31,790 shares of the company's stock valued at $2,692,000 after acquiring an additional 13,913 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of Corteva by 4.7% during the second quarter. Baird Financial Group Inc. now owns 233,198 shares of the company's stock worth $19,750,000 after acquiring an additional 10,504 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Corteva from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Oppenheimer upped their target price on shares of Corteva from $89.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. BMO Capital Markets raised their price target on shares of Corteva from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. Finally, Mizuho boosted their price objective on Corteva from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Corteva currently has an average rating of "Moderate Buy" and an average target price of $91.50.

Corteva Stock Down 0.4%

CTVA opened at $84.43 on Friday. 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 company has a market capitalization of $56.33 billion, a PE ratio of 55.92, a P/E/G ratio of 2.60 and a beta of 0.57. The stock's fifty day moving average is $83.54 and its 200-day moving average is $81.31. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.60 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company's quarterly revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities analysts predict that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm 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 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio (DPR) is presently 47.68%.

Corteva Profile

Corteva, Inc is a global agricultural science company that develops and supplies seed, crop protection and digital agriculture solutions. Its products are designed to help farmers improve crop productivity, manage pests and weeds, and address changing environmental and agricultural conditions.

The company's seed portfolio includes corn, soybean, wheat, sunflower, canola, cotton and other crop varieties marketed under brands such as Pioneer and Brevant. Corteva also provides herbicides, insecticides, fungicides and biological products, including solutions associated with its Enlist weed-control system and other crop protection technologies.

Corteva serves farmers, agricultural retailers and other customers across North America, Latin America, Europe, Asia and other international markets.

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