Saudi Central Bank Acquires 22,052 Shares of Corteva, Inc. $CTVA

Saudi Central Bank lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 88.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,994 shares of the company's stock after purchasing an additional 22,052 shares during the period. Saudi Central Bank's holdings in Corteva were worth $3,980,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Corteva by 941.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company's stock valued at $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Corteva in the second quarter worth $9,132,000. Kingsview Wealth Management LLC purchased a new position in Corteva during the 2nd quarter valued at $1,093,000. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Corteva in the 4th quarter worth about $23,679,000. Finally, Jupiter Topco LLC bought a new stake in shares of Corteva during the 2nd quarter valued at about $544,246,000. Institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTVA. Bank of America lifted their price objective on Corteva from $90.00 to $96.00 and gave the company a "buy" rating in a research report on Monday, July 20th. UBS Group decreased their price objective on Corteva from $89.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, August 18th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Corteva from $77.00 to $83.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada restated an "overweight" rating on shares of Corteva in a research note on Friday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Corteva Stock Down 0.1%

CTVA stock opened at $87.78 on Monday. The business's 50-day moving average price is $83.42 and its 200-day moving average price is $81.05. The stock has a market cap of $58.57 billion, a P/E ratio of 58.13, a PEG ratio of 2.70 and a beta of 0.57. 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, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio is presently 47.68%.

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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