Corteva, Inc. $CTVA Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 4,717,821 shares of the company’s stock after acquiring an additional 128,810 shares during the period. Bank of New York Mellon Corp’s holdings in Corteva were worth $394,929,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of Corteva during the 3rd quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Corteva in the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust acquired a new position in Corteva during the fourth quarter worth $28,000. Cornerstone Financial Management LLC purchased a new stake in Corteva during the fourth quarter worth $29,000. Finally, Basepoint Wealth LLC acquired a new stake in Corteva in the fourth quarter valued at $30,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTVA. Jefferies Financial Group lifted their price target on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Berenberg Bank raised their target price on shares of Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, March 26th. BNP Paribas Exane lifted their target price on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Argus upped their price target on shares of Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings raised shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $88.95.

Corteva Price Performance

Corteva stock opened at $87.42 on Friday. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $88.22. The stock has a market capitalization of $58.47 billion, a P/E ratio of 51.43, a P/E/G ratio of 2.65 and a beta of 0.56. The firm’s 50-day moving average is $80.86 and its two-hundred day moving average is $78.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current 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 given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.8%. Corteva’s dividend payout ratio is 42.35%.

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.