Primecap Management Co. CA Makes New $98.60 Million Investment in Corteva, Inc. $CTVA

Primecap Management Co. CA bought a new stake in Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,164,210 shares of the company’s stock, valued at approximately $98,597,000.

Several other institutional investors have also modified their holdings of CTVA. BlackRock Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth approximately $4,560,180,000. Harris Associates L P raised its holdings in Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after purchasing an additional 10,675,052 shares during the last quarter. Norges Bank acquired a new position in Corteva during the fourth quarter worth $504,001,000. Legal & General Group Plc purchased a new stake in Corteva during the second quarter worth $482,836,000. Finally, Royal Bank of Canada boosted its position in Corteva by 202.1% during the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock worth $624,362,000 after purchasing an additional 4,989,371 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.4%

Shares of CTVA stock opened at $83.18 on Wednesday. The firm’s 50-day simple moving average is $82.39 and its 200-day simple moving average is $80.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97. The firm has a market cap of $55.50 billion, a P/E ratio of 55.09, a PEG ratio of 2.54 and a beta of 0.57.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities analysts forecast 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 Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s dividend payout ratio (DPR) is 47.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price target on Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. CICC Research increased their price objective on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Jefferies Financial Group raised their target price on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.50.

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.