Smithbridge Asset Management Inc. DE Takes $1.82 Million Position in Corteva, Inc. $CTVA

Smithbridge Asset Management Inc. DE acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,782 shares of the company’s stock, valued at approximately $1,823,000.

A number of other institutional investors have also made changes to their positions in CTVA. Harris Associates L P grew its stake in Corteva by 168.1% during the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after buying an additional 10,675,052 shares during the last quarter. Norges Bank bought a new position in shares of Corteva in the fourth quarter valued at approximately $504,001,000. Northwestern Mutual Wealth Management Co. boosted its stake in Corteva by 6,527.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company’s stock valued at $211,025,000 after purchasing an additional 3,100,709 shares in the last quarter. Perpetual Ltd increased its position in shares of Corteva by 78,688.5% during the 4th quarter. Perpetual Ltd now owns 2,615,779 shares of the company’s stock valued at $175,336,000 after purchasing an additional 2,612,459 shares during the period. Finally, Amundi raised its stake 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 buying an additional 1,899,248 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 1.6%

Corteva stock opened at $83.35 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The company has a market capitalization of $55.74 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.59 and a beta of 0.55. The company’s fifty day moving average price is $79.57 and its two-hundred day moving average price is $76.66. Corteva, Inc. has a one year low of $60.53 and a one year high of $85.95.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business posted $1.13 EPS. Corteva’s revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts forecast that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

Analysts Set New Price Targets

CTVA has been the subject of several research reports. Berenberg Bank raised their target price on Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, March 26th. Mizuho raised their price objective on shares of Corteva from $82.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Argus raised their target price on shares of Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, BNP Paribas Exane increased their price target on Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.