Westpac Banking Corp Acquires 8,803 Shares of Corteva, Inc. $CTVA

Westpac Banking Corp grew its holdings in Corteva, Inc. (NYSE:CTVA) by 121.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,061 shares of the company’s stock after buying an additional 8,803 shares during the quarter. Westpac Banking Corp’s holdings in Corteva were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CTVA. Norges Bank bought a new stake in shares of Corteva in the fourth quarter valued at approximately $504,001,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Corteva by 6,527.4% in the fourth 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 during the period. Perpetual Ltd raised its position in shares of Corteva by 78,688.5% in the fourth 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. Amundi raised its position in shares of Corteva by 125.3% in the third quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after purchasing an additional 1,899,248 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Corteva by 423.6% in the third quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock valued at $117,550,000 after purchasing an additional 1,406,199 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. UBS Group upped their target price on shares of Corteva from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Morgan Stanley upped 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. Finally, Jefferies Financial Group upped their target price on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average target price of $88.67.

Corteva Stock Performance

Corteva stock opened at $77.93 on Thursday. The firm’s 50 day simple moving average is $81.33 and its 200 day simple moving average is $74.84. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $52.12 billion, a PE ratio of 45.84, a price-to-earnings-growth ratio of 2.37 and a beta of 0.57. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva’s revenue was up 11.0% on a year-over-year basis. 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. As a group, analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio is presently 42.35%.

Corteva 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.