Cibc World Market Inc. Decreases Stock Holdings in Corteva, Inc. $CTVA

Cibc World Market Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 72.9% during the 4th quarter, Holdings Channel reports. The fund owned 57,389 shares of the company’s stock after selling 154,590 shares during the period. Cibc World Market Inc.’s holdings in Corteva were worth $3,847,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Corteva during the 4th quarter worth approximately $25,713,000. Alberta Investment Management Corp purchased a new stake in shares of Corteva during the 3rd quarter worth approximately $5,018,000. Avior Wealth Management LLC raised its holdings in shares of Corteva by 464.7% during the 4th quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock worth $2,205,000 after acquiring an additional 27,075 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Corteva by 8.6% during the 3rd quarter. HighTower Advisors LLC now owns 182,643 shares of the company’s stock worth $12,352,000 after acquiring an additional 14,436 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Corteva during the 4th quarter worth approximately $23,679,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. CICC Research increased their price target on Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Wells Fargo & Company increased their price target on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Citigroup increased their price target on Corteva from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Oppenheimer increased their price target on Corteva from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Corteva from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $88.67.

Corteva Price Performance

Shares of NYSE CTVA opened at $76.04 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The company has a market cap of $50.86 billion, a PE ratio of 44.73, a P/E/G ratio of 2.36 and a beta of 0.57. The business has a 50-day simple moving average of $81.03 and a two-hundred day simple moving average of $75.09. Corteva, Inc. has a fifty-two week low of $60.53 and a fifty-two week high of $85.63.

Corteva (NYSE:CTVA) last issued its quarterly 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. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities analysts expect that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be 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 is Monday, June 1st. Corteva’s dividend payout ratio (DPR) is currently 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.