J. Goldman & Co LP Takes $20.04 Million Position in Corteva, Inc. $CTVA

Key Points

• J. Goldman & Co. LP acquired 236,652 Corteva shares worth approximately $20.04 million during the second quarter. Institutional investors collectively own 81.54% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $91.50, above Corteva’s reported share price of $83.18.
• Corteva exceeded quarterly EPS expectations with $2.30 versus the $2.24 consensus, though revenue declined 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share, representing a 0.9% yield.

J. Goldman & Co LP purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 236,652 shares of the company's stock, valued at approximately $20,042,000.

A number of other hedge funds have also bought and sold shares of CTVA. Arbejdsmarkedets Tillaegspension purchased a new stake in Corteva during the fourth quarter worth about $23,679,000. Bank of New York Mellon Corp purchased a new position in Corteva in the second quarter valued at about $392,447,000. Leonteq Securities AG bought a new position in shares of Corteva during the 4th quarter valued at approximately $2,350,000. Brandes Investment Partners LP increased its stake in shares of Corteva by 1.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock worth $155,009,000 after purchasing an additional 24,985 shares during the last quarter. Finally, Twin Capital Management Inc. increased its stake in shares of Corteva by 178.9% during the 4th quarter. Twin Capital Management Inc. now owns 25,394 shares of the company's stock worth $1,702,000 after purchasing an additional 16,288 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTVA shares. Rothschild & Co Redburn boosted their price objective on Corteva from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. CICC Research lifted their price objective on Corteva from $80.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Citigroup lifted their target price on shares of Corteva from $85.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings cut shares of Corteva from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Finally, Oppenheimer increased their price target on shares of Corteva from $89.00 to $95.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Corteva currently has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Corteva Stock Up 0.4%

CTVA opened at $83.18 on Wednesday. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $90.97. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The business's 50-day moving average price is $82.39 and its 200-day moving average price is $80.37. The company has a market cap of $55.50 billion, a P/E ratio of 55.09, a P/E/G ratio of 2.54 and a beta of 0.57.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter last year, the firm earned $2.20 EPS. The company's 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 expect 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. Stockholders of record on Tuesday, September 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend 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 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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