QRG Capital Management Inc. Increases Stake in Corteva, Inc. $CTVA

QRG Capital Management Inc. lifted its position in Corteva, Inc. (NYSE:CTVA) by 23.5% in the 1st quarter, Holdings Channel reports. The fund owned 73,038 shares of the company’s stock after acquiring an additional 13,886 shares during the quarter. QRG Capital Management Inc.’s holdings in Corteva were worth $6,114,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Corteva by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock valued at $5,398,392,000 after buying an additional 317,538 shares during the period. State Street Corp grew its position in shares of Corteva by 3.7% in the 4th quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after buying an additional 1,290,071 shares during the period. Franklin Resources Inc. grew its position in shares of Corteva by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after buying an additional 805,873 shares during the period. Harris Associates L P increased its stake in shares of Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after acquiring an additional 10,675,052 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Corteva by 5.0% during the 4th quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock valued at $786,385,000 after acquiring an additional 562,550 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 0.2%

CTVA opened at $85.63 on Monday. The stock has a market capitalization of $57.27 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.62 and a beta of 0.56. The firm has a 50 day moving average price of $79.80 and a 200-day moving average price of $76.94. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $85.95. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced 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 business had revenue of $4.91 billion for 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 business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities research analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva’s dividend payout ratio is 42.35%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTVA. Citigroup raised their target price on shares of Corteva from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Barclays boosted their price target on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. CICC Research lifted their price objective on Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group lifted their price objective on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.90.

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.