Norges Bank Purchases New Position in Corteva, Inc. $CTVA

Norges Bank purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,519,031 shares of the company’s stock, valued at approximately $504,001,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Corteva by 9.1% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,674 shares of the company’s stock valued at $112,000 after buying an additional 140 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Corteva by 3.8% during the fourth quarter. Drive Wealth Management LLC now owns 4,259 shares of the company’s stock valued at $285,000 after buying an additional 156 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its position in Corteva by 2.9% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 5,686 shares of the company’s stock valued at $381,000 after purchasing an additional 160 shares during the last quarter. Chesapeake Capital Corp IL lifted its position in Corteva by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 18,035 shares of the company’s stock valued at $1,209,000 after purchasing an additional 161 shares during the last quarter. Finally, Fox Run Management L.L.C. lifted its position in Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock valued at $227,000 after purchasing an additional 164 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Corteva stock opened at $78.41 on Monday. The firm has a 50-day moving average price of $81.33 and a 200-day moving average price of $74.60. The firm has a market capitalization of $52.44 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 2.39 and a beta of 0.57. 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 $85.63.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 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 Monday, June 1st. Corteva’s dividend payout ratio (DPR) is 42.35%.

Analysts Set New Price Targets

Several equities analysts have commented on CTVA shares. Rothschild & Co Redburn increased their price objective on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Mizuho increased their price objective on shares of Corteva from $82.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corteva from $90.00 to $100.00 in a research report on Monday, May 11th. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.67.

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.