Pacer Advisors Inc. Trims Stock Position in Corteva, Inc. $CTVA

Pacer Advisors Inc. reduced its stake in Corteva, Inc. (NYSE:CTVA) by 3.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,353,734 shares of the company’s stock after selling 88,443 shares during the period. Pacer Advisors Inc.’s holdings in Corteva were worth $157,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CTVA. JPL Wealth Management LLC purchased a new position in Corteva in the 3rd quarter valued at $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Corteva during the fourth quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new position in Corteva during the third quarter worth about $29,000. Finally, Cornerstone Financial Management LLC purchased a new position in Corteva during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Berenberg Bank lifted their price target on Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, March 26th. Rothschild & Co Redburn raised their target price on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group cut their target price on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Jefferies Financial Group increased their price target on shares of Corteva from $95.00 to $97.00 in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Corteva from $88.00 to $96.00 and gave the stock 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.81.

Corteva Stock Up 1.6%

CTVA opened at $78.57 on Friday. The firm has a market cap of $52.55 billion, a P/E ratio of 46.22, a PEG ratio of 2.37 and a beta of 0.57. The business’s fifty day simple moving average is $79.74 and its 200 day simple moving average is $75.67. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $85.63. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. The firm 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 firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s payout ratio is currently 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.