Westpac Banking Corp Trims Stake in Corteva, Inc. $CTVA

Westpac Banking Corp lowered its position in Corteva, Inc. (NYSE:CTVA) by 41.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,415 shares of the company’s stock after selling 6,646 shares during the quarter. Westpac Banking Corp’s holdings in Corteva were worth $788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Corteva by 0.7% during the first quarter. PNC Financial Services Group Inc. now owns 678,065 shares of the company’s stock valued at $56,761,000 after buying an additional 4,930 shares during the period. Oslo Pensjonsforsikring AS bought a new position in Corteva in the 1st quarter worth about $281,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Corteva in the 1st quarter valued at about $277,000. Wilkerson Advisory Group LLC boosted its position in shares of Corteva by 6.7% during the 1st quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock valued at $177,000 after acquiring an additional 133 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Corteva during the first quarter worth about $80,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

CTVA stock opened at $88.56 on Thursday. The company has a market capitalization of $59.23 billion, a PE ratio of 52.09, a price-to-earnings-growth ratio of 2.64 and a beta of 0.56. 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 one year low of $60.53 and a one year high of $88.57. The company’s 50 day moving average price is $81.13 and its two-hundred day moving average price is $78.69.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts predict that Corteva, Inc. will post 3.75 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Corteva’s dividend payout ratio is presently 42.35%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTVA. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Jefferies Financial Group lifted their price objective on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of Corteva from $97.00 to $103.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group reduced their target price on Corteva from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Finally, Rothschild & Co Redburn raised their price target on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $89.90.

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.