Swiss National Bank Boosts Holdings in Corteva, Inc. $CTVA

Key Points

• Swiss National Bank increased its Corteva stake by 6.7% in the first quarter, buying 123,800 additional shares and bringing its holding to 1,983,083 shares worth about $166.0 million.
• Corteva reported strong quarterly results, with EPS of $1.50 beating estimates of $1.18 and revenue of $4.91 billion topping expectations; revenue also rose 11% year over year.
• Analysts remain broadly positive on the stock, with Corteva carrying a Moderate Buy consensus and an average price target of $88.95, while the shares recently traded near their 52-week high.

Swiss National Bank boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,983,083 shares of the company's stock after purchasing an additional 123,800 shares during the quarter. Swiss National Bank owned approximately 0.30% of Corteva worth $166,004,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CTVA. Drummond Knight Asset Management Pty Ltd bought a new stake in shares of Corteva in the fourth quarter worth about $25,713,000. Arbejdsmarkedets Tillaegspension bought a new position in Corteva during the fourth quarter valued at approximately $23,679,000. Leonteq Securities AG bought a new position in Corteva during the fourth quarter valued at approximately $2,350,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 buying an additional 20,957 shares in the last quarter. Finally, Brandes Investment Partners LP increased its stake in Corteva by 1.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock worth $155,009,000 after acquiring an additional 24,985 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Rothschild & Co Redburn upped their price objective on Corteva from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Corteva from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 7th. Berenberg Bank boosted their price target on shares of Corteva from $68.00 to $78.00 and gave the stock a "hold" rating in a research report on Thursday, March 26th. Zacks Research raised shares of Corteva from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Finally, Oppenheimer increased their price objective on shares of Corteva from $86.00 to $89.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $88.95.

Corteva Trading Up 0.1%

Shares of CTVA stock opened at $87.42 on Monday. The company has a market cap of $58.47 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $88.22. The stock's 50 day simple moving average is $80.86 and its two-hundred day simple moving average is $78.26. 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 earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

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 dividend on an annualized basis and a yield of 0.8%. Corteva's payout ratio is 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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