Fifth Third Bancorp Increases Stake in Corteva, Inc. $CTVA

Fifth Third Bancorp lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 137.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,647 shares of the company's stock after acquiring an additional 245,255 shares during the quarter. Fifth Third Bancorp owned 0.06% of Corteva worth $35,463,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. raised its holdings in shares of Corteva by 2.9% in the 1st quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company's stock valued at $373,000 after purchasing an additional 126 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Corteva by 2.4% in the 1st quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company's stock worth $477,000 after purchasing an additional 135 shares during the period. First Horizon Corp boosted its stake in shares of Corteva by 9.2% during the first quarter. First Horizon Corp now owns 1,600 shares of the company's stock valued at $134,000 after purchasing an additional 135 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Corteva by 9.1% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,674 shares of the company's stock valued at $112,000 after buying an additional 140 shares during the period. Finally, Equitable Trust Co. raised its stake in Corteva by 2.5% in the first quarter. Equitable Trust Co. now owns 5,993 shares of the company's stock worth $502,000 after buying an additional 147 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of NYSE CTVA opened at $85.83 on Monday. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $87.69. The company has a market cap of $57.40 billion, a PE ratio of 50.49, a P/E/G ratio of 2.62 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The business has a 50-day simple moving average of $80.42 and a two-hundred day simple moving average of $77.61.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 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 currently 42.35%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CTVA shares. Argus upped their target price on Corteva from $80.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Wells Fargo & Company boosted their price target on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Jefferies Financial Group upped their price objective on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Finally, BNP Paribas Exane increased their price target on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average price target of $88.90.

Corteva Company 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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