Wealthfront Advisers LLC Buys New Position in Corteva, Inc. $CTVA

Key Points

• Wealthfront Advisers purchased a new Corteva position of 96,415 shares in the second quarter, valued at approximately $8.2 million. Institutional investors collectively own 81.54% of the company.
• Analysts maintain a favorable outlook, with 14 Buy ratings and 9 Holds producing a consensus “Moderate Buy” rating and an average price target of $91.50.
• Corteva exceeded quarterly EPS expectations, reporting $2.30 versus the $2.24 consensus, although revenue fell 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share.

Wealthfront Advisers LLC purchased a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,415 shares of the company's stock, valued at approximately $8,165,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Corteva by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company's stock worth $5,398,392,000 after purchasing an additional 317,538 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Corteva during the 2nd quarter valued at about $4,560,180,000. State Street Corp boosted its stake in shares of Corteva by 3.7% during the 4th quarter. State Street Corp now owns 36,570,876 shares of the company's stock valued at $2,451,346,000 after purchasing an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company's stock valued at $1,309,599,000 after buying an additional 805,873 shares during the period. Finally, Harris Associates L P increased its position in shares of Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock valued at $1,141,268,000 after buying an additional 10,675,052 shares during the period. Institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CTVA shares. Citigroup raised their price objective on shares of Corteva from $85.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Morgan Stanley upped their target price on Corteva from $84.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Oppenheimer increased their target price on Corteva from $89.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada raised their target price on Corteva from $97.00 to $103.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Finally, UBS Group dropped their price target on Corteva from $89.00 to $85.00 and set a "neutral" rating on the stock in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.50.

Corteva Trading Up 0.8%

Shares of NYSE CTVA opened at $78.51 on Thursday. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $90.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The firm has a 50-day moving average of $81.92 and a 200 day moving average of $80.15. The stock has a market cap of $52.38 billion, a P/E ratio of 51.99, a price-to-earnings-growth ratio of 2.39 and a beta of 0.57.

Corteva (NYSE:CTVA - Get Free Report) last announced 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. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.60 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, sell-side analysts expect 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 will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva's dividend payout ratio is presently 47.68%.

Corteva 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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