Sumitomo Mitsui Trust Group Inc. Reduces Position in Corteva, Inc. $CTVA

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 9.6% during the first quarter, HoldingsChannel reports. The firm owned 1,867,037 shares of the company’s stock after selling 197,471 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Corteva were worth $156,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Harris Associates L P grew its holdings 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 last quarter. Norges Bank purchased a new position in Corteva in the 4th quarter worth $504,001,000. Northwestern Mutual Wealth Management Co. raised 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 acquiring an additional 3,100,709 shares during the last quarter. Perpetual Ltd lifted its position in Corteva by 78,688.5% during the 4th quarter. Perpetual Ltd now owns 2,615,779 shares of the company’s stock worth $175,336,000 after acquiring an additional 2,612,459 shares during the period. Finally, Amundi lifted its position in Corteva by 125.3% during the 3rd quarter. Amundi now owns 3,415,554 shares of the company’s stock worth $219,620,000 after acquiring an additional 1,899,248 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Berenberg Bank increased their price objective on Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Morgan Stanley lifted 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. Wells Fargo & Company upped their target price on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Finally, CICC Research raised their price target on shares of Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Thirteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.90.

Corteva Stock Performance

Shares of CTVA stock opened at $83.82 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $87.69. The business’s 50 day moving average is $80.29 and its two-hundred day moving average is $77.48. The company has a market capitalization of $56.06 billion, a P/E ratio of 49.31, a P/E/G ratio of 2.61 and a beta of 0.56.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company posted $1.13 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts expect that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. 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.