Primecap Management Co. CA Sells 70,396 Shares of Corteva, Inc. $CTVA

Primecap Management Co. CA decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,223,250 shares of the company’s stock after selling 70,396 shares during the quarter. Primecap Management Co. CA owned 0.18% of Corteva worth $82,728,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empirical Finance LLC raised its position in Corteva by 0.6% in the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after purchasing an additional 153 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock valued at $227,000 after purchasing an additional 164 shares in the last quarter. United Community Bank grew its stake in shares of Corteva by 10.5% in the 3rd quarter. United Community Bank now owns 1,849 shares of the company’s stock valued at $125,000 after purchasing an additional 176 shares during the period. Binnacle Investments Inc raised its holdings in shares of Corteva by 54.7% in the 2nd quarter. Binnacle Investments Inc now owns 512 shares of the company’s stock worth $38,000 after buying an additional 181 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Corteva by 2.6% in the 2nd quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock worth $526,000 after buying an additional 181 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup upped their price target on Corteva from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a research note on Monday, December 29th. Wells Fargo & Company upped their target price on shares of Corteva from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. downgraded shares of Corteva from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $77.00 in a report on Thursday, February 5th. Finally, BNP Paribas Exane upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.30.

Insider Buying and Selling

In other news, insider Brian Titus sold 8,311 shares of Corteva stock in a transaction on Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the completion of the sale, the insider directly owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Corteva Stock Up 1.4%

Shares of NYSE CTVA opened at $78.79 on Friday. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $78.83. The firm’s 50-day simple moving average is $71.64 and its 200 day simple moving average is $68.78. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The company has a market cap of $52.99 billion, a price-to-earnings ratio of 49.87, a price-to-earnings-growth ratio of 2.65 and a beta of 0.75.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio is currently 45.57%.

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.