Assenagon Asset Management S.A. Decreases Stock Holdings in Corteva, Inc. $CTVA

Assenagon Asset Management S.A. lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 499,517 shares of the company’s stock after selling 403,529 shares during the period. Assenagon Asset Management S.A.’s holdings in Corteva were worth $41,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. JPL Wealth Management LLC purchased a new position in Corteva in the third quarter valued at about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Corteva in the fourth quarter worth about $28,000. Cornerstone Financial Management LLC purchased a new stake in shares of Corteva in the fourth quarter worth about $29,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $81.51 on Friday. The stock’s 50 day moving average is $79.35 and its two-hundred day moving average is $76.15. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $85.63. The company has a market capitalization of $54.52 billion, a PE ratio of 47.95, a P/E/G ratio of 2.45 and a beta of 0.57. 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 released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 6.50% and a return on equity of 9.95%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. 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. Analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s dividend payout ratio (DPR) is currently 42.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. 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. Rothschild & Co Redburn increased their price objective on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Mizuho lifted their price objective on shares of Corteva from $82.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group upped their target price on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

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.