Smithbridge Asset Management Inc. DE Acquires Shares of 21,782 Corteva, Inc. $CTVA

Smithbridge Asset Management Inc. DE acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 21,782 shares of the company’s stock, valued at approximately $1,823,000.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Drummond Knight Asset Management Pty Ltd acquired a new stake in Corteva during the 4th quarter valued at $25,713,000. Avior Wealth Management LLC lifted its position in Corteva by 464.7% during the 4th quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock valued at $2,205,000 after purchasing an additional 27,075 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in Corteva in the fourth quarter valued at approximately $23,679,000. Squarepoint Ops LLC boosted its position in shares of Corteva by 423.6% in the 3rd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Corteva by 23.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company’s stock worth $7,378,000 after buying an additional 20,957 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price target on shares of Corteva from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Morgan Stanley upped their price target on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Oppenheimer raised their price objective on Corteva from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. UBS Group decreased their target price on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company boosted their price target on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.81.

Corteva Price Performance

NYSE:CTVA opened at $83.35 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $85.95. The firm’s 50-day simple moving average is $79.57 and its 200 day simple moving average is $76.66. The firm has a market cap of $55.74 billion, a price-to-earnings ratio of 49.03, a P/E/G ratio of 2.59 and a beta of 0.55.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.32. The business 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 firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, 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 was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.18 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva’s payout ratio is presently 42.35%.

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.