Sumitomo Mitsui Trust Group Inc. Sells 197,471 Shares of Corteva, Inc. $CTVA

Key Points

• Sumitomo Mitsui Trust Group cut its Corteva stake by 9.6% in the first quarter, selling 197,471 shares and leaving it with 1,867,037 shares valued at about $156.3 million.
• Wall Street sentiment remains positive: several analysts raised price targets, and Corteva now has a consensus “Moderate Buy” rating with an average price target of $88.90.
• Recent results topped expectations, with Corteva reporting $1.50 EPS and $4.91 billion in revenue for the quarter, both above analyst estimates, while also maintaining a quarterly dividend of $0.18 per share.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,867,037 shares of the company's stock after selling 197,471 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Corteva worth $156,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Drummond Knight Asset Management Pty Ltd bought a new stake in shares of Corteva in the fourth quarter valued at about $25,713,000. Avior Wealth Management LLC lifted its stake in Corteva by 464.7% in the fourth quarter. Avior Wealth Management LLC now owns 32,901 shares of the company's stock worth $2,205,000 after acquiring an additional 27,075 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in Corteva during the 4th quarter worth about $23,679,000. Squarepoint Ops LLC grew its holdings in Corteva by 423.6% during the 3rd quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company's stock worth $117,550,000 after acquiring an additional 1,406,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Corteva by 23.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company's stock valued at $7,378,000 after purchasing an additional 20,957 shares during the period. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Argus upped their price target on shares of Corteva from $80.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Morgan Stanley lifted their price objective on shares of Corteva from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. BNP Paribas Exane boosted their price objective on shares of Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Jefferies Financial Group upped their target price on Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their target price on Corteva from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Corteva has an average rating of "Moderate Buy" and an average price target of $88.90.

Corteva Price Performance

NYSE CTVA opened at $83.82 on Friday. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $87.69. The firm's fifty day simple moving average is $80.29 and its two-hundred day simple moving average is $77.48. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $56.06 billion, a P/E ratio of 49.31, a P/E/G ratio of 2.61 and a beta of 0.56.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data 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. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the firm earned $1.13 EPS. The business's quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm 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. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Corteva's dividend payout ratio (DPR) is currently 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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