Bank of New York Mellon Corp Sells 492,451 Shares of Corteva, Inc. $CTVA

Bank of New York Mellon Corp lowered its stake in Corteva, Inc. (NYSE:CTVA) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,589,011 shares of the company’s stock after selling 492,451 shares during the quarter. Bank of New York Mellon Corp’s holdings in Corteva were worth $307,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTVA. JPL Wealth Management LLC bought a new position in shares of Corteva in the third quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Corteva in the third quarter worth about $29,000. Jackson Grant Investment Advisers Inc. lifted its holdings in shares of Corteva by 90.6% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock worth $30,000 after acquiring an additional 213 shares during the last quarter. Basepoint Wealth LLC bought a new position in shares of Corteva in the fourth quarter worth about $30,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Corteva in the third quarter worth about $33,000. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTVA shares. Morgan Stanley upped their price objective on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Wells Fargo & Company upped their price objective on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. UBS Group upped their price objective on Corteva from $88.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, The Goldman Sachs Group upped their price objective on Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Corteva Stock Performance

NYSE:CTVA opened at $77.49 on Friday. The company has a market capitalization of $51.82 billion, a PE ratio of 45.58, a P/E/G ratio of 2.38 and a beta of 0.57. The company has a 50 day simple moving average of $81.27 and a two-hundred day simple moving average of $74.92. 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 fifty-two week low of $60.53 and a fifty-two week high of $85.63.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating 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 company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Corteva’s dividend payout ratio is presently 42.35%.

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.