CIBC Asset Management Inc Grows Position in Corteva, Inc. $CTVA

CIBC Asset Management Inc raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 65.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,264 shares of the company’s stock after buying an additional 65,563 shares during the quarter. CIBC Asset Management Inc’s holdings in Corteva were worth $11,145,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTVA. Norges Bank purchased a new position in shares of Corteva in the 4th quarter worth approximately $504,001,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 purchasing an additional 3,100,709 shares during the period. Perpetual Ltd boosted its holdings in shares of Corteva by 78,688.5% in the 4th quarter. Perpetual Ltd now owns 2,615,779 shares of the company’s stock worth $175,336,000 after purchasing an additional 2,612,459 shares during the period. Amundi boosted its holdings in shares of Corteva by 125.3% in the 3rd quarter. Amundi now owns 3,415,554 shares of the company’s stock worth $219,620,000 after purchasing an additional 1,899,248 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of Corteva by 423.6% in the 3rd quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock worth $117,550,000 after purchasing an additional 1,406,199 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.5%

Shares of CTVA opened at $77.06 on Friday. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $85.63. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $51.54 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 2.37 and a beta of 0.57. The stock’s 50-day moving average price is $81.17 and its 200-day moving average price is $74.94.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion for 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 revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, sell-side analysts predict 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. Shareholders of record on Monday, June 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CTVA shares. The Goldman Sachs Group boosted their price objective on Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. UBS Group boosted their price objective on Corteva from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Argus boosted their price objective on Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Morgan Stanley boosted their price objective on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, Wall Street Zen cut Corteva from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

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.