Pallas Capital Advisors LLC Takes $4.72 Million Position in Corteva, Inc. $CTVA

Key Points

• Pallas Capital Advisors acquired 55,763 Corteva shares worth approximately $4.72 million during the second quarter. Institutional investors collectively own 81.54% of the company.
• Corteva exceeded quarterly EPS expectations, reporting $2.30 versus the $2.24 consensus, although revenue fell 1.2% year over year to $6.38 billion and missed estimates.
• The company declared a quarterly dividend of $0.18, equivalent to $0.72 annually and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $91.70, above the reported share price of $75.73.

Pallas Capital Advisors LLC bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,763 shares of the company's stock, valued at approximately $4,723,000.

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Corteva in the 3rd quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Corteva during the fourth quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new position in shares of Corteva during the fourth quarter valued at about $28,000. Cornerstone Financial Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth about $29,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Corteva by 334.6% in the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company's stock worth $29,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.2%

NYSE CTVA opened at $75.73 on Tuesday. The firm has a market capitalization of $50.53 billion, a PE ratio of 50.15, a P/E/G ratio of 2.35 and a beta of 0.57. The stock's 50 day moving average is $81.78 and its 200 day moving average is $80.09. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Research analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio (DPR) is presently 47.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTVA shares. BMO Capital Markets boosted their price target on Corteva from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Weiss Ratings lowered Corteva from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Citigroup boosted their target price on Corteva from $85.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. BNP Paribas Exane raised their price target on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Finally, Oppenheimer lifted their price target on shares of Corteva from $89.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $91.70.

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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