Swiss Life Asset Management Ltd Trims Stock Position in Corteva, Inc. $CTVA

Key Points

• Swiss Life Asset Management cut its Corteva stake by 26.7% in the fourth quarter, selling 41,095 shares and ending with 112,734 shares valued at about $7.56 million.
• Corteva reported better-than-expected quarterly results, posting EPS of $1.50 versus the $1.18 estimate and revenue of $4.91 billion versus $4.64 billion expected, with revenue up 11% year over year.
• The company also announced a quarterly dividend of $0.18 per share, while analysts remain generally constructive with a consensus rating of “Moderate Buy” and an average price target of $88.14.

Swiss Life Asset Management Ltd trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,734 shares of the company's stock after selling 41,095 shares during the period. Swiss Life Asset Management Ltd's holdings in Corteva were worth $7,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Perpetual Ltd boosted its position in shares of Corteva by 78,688.5% in the fourth quarter. Perpetual Ltd now owns 2,615,779 shares of the company's stock worth $175,336,000 after acquiring an additional 2,612,459 shares during the last quarter. Amundi increased its position in Corteva by 125.3% during the third quarter. Amundi now owns 3,415,554 shares of the company's stock worth $219,620,000 after purchasing an additional 1,899,248 shares during the last quarter. Squarepoint Ops LLC raised its stake in Corteva by 423.6% during the third quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company's stock worth $117,550,000 after purchasing an additional 1,406,199 shares during the period. Man Group plc boosted its holdings in shares of Corteva by 16,474.3% in the 3rd quarter. Man Group plc now owns 1,294,125 shares of the company's stock valued at $87,522,000 after purchasing an additional 1,286,317 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Corteva by 3.6% during the 3rd quarter. State Street Corp now owns 35,280,805 shares of the company's stock valued at $2,386,041,000 after buying an additional 1,230,074 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of CTVA stock opened at $83.32 on Thursday. The firm has a fifty day moving average of $80.94 and a two-hundred day moving average of $73.17. The firm has a market cap of $55.72 billion, a P/E ratio of 49.01, a P/E/G ratio of 2.53 and a beta of 0.59. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. The firm had revenue of $4.91 billion during 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%.Corteva's quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous 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, research analysts anticipate that Corteva, Inc. will post 3.7 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva's payout ratio is presently 42.35%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research reports. UBS Group increased their target price on Corteva from $88.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Wells Fargo & Company raised their price objective on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Zacks Research lowered Corteva from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corteva from $90.00 to $100.00 in a research report on Monday. Finally, Wolfe Research raised their price target on shares of Corteva from $81.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.14.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 8,311 shares of the firm's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the transaction, the insider directly owned 8,090 shares in the company, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

About Corteva

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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