Kimelman & Baird LLC Buys New Shares in Corteva, Inc. $CTVA

Kimelman & Baird LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,651 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. BlackRock Inc. bought a new position in shares of Corteva during the 2nd quarter valued at about $4,560,180,000. State Street Corp grew its position in shares of Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after purchasing an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after purchasing an additional 805,873 shares during the last quarter. Harris Associates L P increased its holdings in shares of Corteva by 168.1% in 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. Finally, Northern Trust Corp lifted its position in shares of Corteva by 5.0% in the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock worth $786,385,000 after buying an additional 562,550 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

CTVA stock opened at $84.00 on Friday. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97. The business has a 50-day moving average price of $82.69 and a 200 day moving average price of $80.54. The company has a market capitalization of $56.04 billion, a P/E ratio of 55.63, a PEG ratio of 2.53 and a beta of 0.57. 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 (NYSE:CTVA) last issued its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio (DPR) is currently 47.68%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 target price on shares of Corteva in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target 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. Bank of America increased their price objective on shares of Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Oppenheimer lifted their price objective on shares of Corteva from $89.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, 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 report on Thursday, May 28th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

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.