Wellington Management Group LLP Buys 6,881,875 Shares of Corteva, Inc. $CTVA

Key Points

• Wellington Management increased its Corteva stake by 941.7% in the second quarter, buying 6.88 million additional shares. It now owns 7.61 million shares, valued at approximately $644.7 million, or 1.14% of the company.
• Analysts maintain a generally positive view of Corteva, with a consensus rating of “Moderate Buy” and an average price target of $91.50, compared with the stock’s reported price of $84.00.
• Corteva’s latest quarterly EPS of $2.30 exceeded estimates, although revenue fell 1.2% year over year to $6.38 billion. The company also declared a quarterly dividend of $0.18 per share, representing a 0.9% yield.

Wellington Management Group LLP lifted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 941.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,612,704 shares of the company's stock after buying an additional 6,881,875 shares during the quarter. Wellington Management Group LLP owned about 1.14% of Corteva worth $644,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. EFG International AG purchased a new stake in Corteva in the 2nd quarter worth approximately $25,000. Compass Financial Management LLC bought a new position in shares of Corteva in the second quarter worth approximately $25,000. Elevation Wealth Partners LLC raised its position in shares of Corteva by 334.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 339 shares of the company's stock valued at $29,000 after purchasing an additional 261 shares during the period. Clearstead Trust LLC bought a new stake in shares of Corteva during the 2nd quarter valued at $31,000. Finally, JPL Wealth Management LLC bought a new position in Corteva in the 3rd quarter worth $25,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Corteva from $89.00 to $85.00 and set a "neutral" rating on the stock in a report on Tuesday, August 18th. Morgan Stanley lifted their target price on Corteva from $84.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Mizuho boosted their price target on Corteva from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Royal Bank Of Canada restated an "overweight" rating on shares of Corteva in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corteva from $77.00 to $83.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.50.

Corteva Stock Performance

NYSE CTVA opened at $84.00 on Friday. The business's 50 day moving average price is $82.69 and its 200-day moving average price is $80.54. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $90.97. The company has a market cap of $56.04 billion, a P/E ratio of 55.63, a P/E/G ratio of 2.58 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.Corteva's revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Sell-side analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio (DPR) is 47.68%.

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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