WCM Investment Management LLC Sells 92,666 Shares of Corteva, Inc. $CTVA

Key Points

• WCM Investment Management trimmed its Corteva stake by 1.1% in the first quarter, selling 92,666 shares but still holding 8.7 million shares worth about $722.7 million.
• Corteva beat quarterly expectations, reporting EPS of $1.50 versus $1.18 expected and revenue of $4.91 billion, up 11% year over year.
• Analysts remain cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $88.95; the stock recently traded near its 52-week high at $87.42.

WCM Investment Management LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,712,618 shares of the company's stock after selling 92,666 shares during the period. Corteva comprises 1.6% of WCM Investment Management LLC's portfolio, making the stock its 23rd biggest position. WCM Investment Management LLC owned about 1.30% of Corteva worth $722,712,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Harris Associates L P increased its stake in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock worth $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Norges Bank bought a new position in shares of Corteva in the fourth quarter worth about $504,001,000. Northwestern Mutual Wealth Management Co. increased its stake in Corteva by 6,527.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company's stock worth $211,025,000 after buying an additional 3,100,709 shares during the period. Perpetual Ltd increased its stake in Corteva by 78,688.5% in the 4th quarter. Perpetual Ltd now owns 2,615,779 shares of the company's stock worth $175,336,000 after buying an additional 2,612,459 shares during the period. Finally, Amundi lifted its holdings in Corteva by 125.3% during the 3rd quarter. Amundi now owns 3,415,554 shares of the company's stock valued at $219,620,000 after buying an additional 1,899,248 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Up 0.1%

NYSE CTVA opened at $87.42 on Monday. Corteva, Inc. has a one year low of $60.53 and a one year high of $88.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The company has a market capitalization of $58.47 billion, a price-to-earnings ratio of 51.43, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56. The company's 50-day simple moving average is $80.86 and its two-hundred day simple moving average is $78.26.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.18 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva's dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTVA. Jefferies Financial Group upped their target price on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Oppenheimer lifted their price target on shares of Corteva from $86.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Citigroup increased their price objective on Corteva from $83.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Argus raised their price objective on Corteva from $80.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Finally, Rothschild & Co Redburn lifted their target price on Corteva from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One research 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.95.

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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