Allstate Corp Grows Stake in Corteva, Inc. $CTVA

Allstate Corp lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 104.4% in the fourth quarter, Holdings Channel reports. The firm owned 51,384 shares of the company’s stock after buying an additional 26,250 shares during the period. Allstate Corp’s holdings in Corteva were worth $3,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Activest Wealth Management grew its stake in Corteva by 118.3% during the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Corteva during the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Corteva during the 3rd quarter valued at about $29,000. Jackson Grant Investment Advisers Inc. grew its stake in Corteva by 90.6% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock valued at $30,000 after acquiring an additional 213 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Corteva during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several research reports. BNP Paribas Exane upped their price objective on shares of Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut shares of Corteva from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $77.00 in a research note on Thursday, February 5th. Oppenheimer boosted their target price on shares of Corteva from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn boosted their target price on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Thirteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $88.14.

Corteva Stock Performance

Shares of CTVA stock opened at $79.89 on Thursday. The firm’s 50 day moving average price is $81.34 and its 200-day moving average price is $74.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. Corteva, Inc. has a one year low of $60.53 and a one year high of $85.63. The firm has a market cap of $53.43 billion, a P/E ratio of 46.99, a P/E/G ratio of 2.42 and a beta of 0.59.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping 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 firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business posted $1.13 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities research analysts predict that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The firm 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 is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s dividend payout ratio is 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.