KBC Group NV Purchases 771,480 Shares of Corteva, Inc. $CTVA

Key Points

• KBC Group NV increased its Corteva stake by 58.8% in the first quarter, buying 771,480 additional shares and bringing its total holding to 2,082,909 shares worth about $174.4 million.
• Other major institutional investors also boosted or adjusted positions in Corteva, and 81.54% of the stock is owned by institutions, highlighting strong institutional interest.
• Analysts remain broadly positive: Corteva has a Moderate Buy consensus with an average price target of $88.95, while the company recently reported better-than-expected earnings and revenue for the quarter.

KBC Group NV lifted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 58.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,082,909 shares of the company's stock after purchasing an additional 771,480 shares during the period. KBC Group NV owned 0.31% of Corteva worth $174,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Corteva by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company's stock worth $5,398,392,000 after purchasing an additional 317,538 shares during the period. State Street Corp increased its position in Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company's stock worth $2,451,346,000 after buying an additional 1,290,071 shares during the last quarter. Franklin Resources Inc. raised its stake in Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company's stock valued at $1,309,599,000 after buying an additional 805,873 shares during the period. Harris Associates L P raised its stake in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock valued at $1,141,268,000 after buying an additional 10,675,052 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Corteva by 5.0% in the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company's stock valued at $786,385,000 after buying an additional 562,550 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTVA. UBS Group decreased their target price on Corteva from $90.00 to $86.00 and set a "neutral" rating on the stock in a report on Tuesday, June 9th. Citigroup raised their price target on Corteva from $83.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Morgan Stanley lifted their price objective 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. CICC Research upped their price objective on shares of Corteva from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Finally, Argus increased their price objective on shares of Corteva from $80.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.95.

Corteva Trading Up 0.1%

Shares of NYSE:CTVA opened at $87.42 on Monday. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $88.22. The business has a 50 day moving average of $80.86 and a 200-day moving average of $78.26. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The stock has a market cap of $58.47 billion, a PE ratio of 51.43, a P/E/G ratio of 2.67 and a beta of 0.56.

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

Corteva Dividend Announcement

The company also recently disclosed 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 dividend payout ratio (DPR) is presently 42.35%.

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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