Summit Securities Group LLC Boosts Stake in Corteva, Inc. $CTVA

Summit Securities Group LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 1,905.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,110 shares of the company’s stock after buying an additional 19,107 shares during the period. Corteva makes up about 0.2% of Summit Securities Group LLC’s portfolio, making the stock its 22nd biggest holding. Summit Securities Group LLC’s holdings in Corteva were worth $1,683,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Corteva by 40.3% in the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after purchasing an additional 16,644 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Corteva by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after purchasing an additional 980 shares during the last quarter. Cresset Asset Management LLC increased its position in Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock worth $526,000 after purchasing an additional 181 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Corteva during the second quarter valued at $1,464,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group lowered their price objective 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. Oppenheimer boosted their target price on shares of Corteva from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn increased their price target on shares of Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.90.

Corteva Stock Down 1.6%

Shares of NYSE CTVA opened at $83.82 on Friday. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $87.69. The firm has a 50-day simple moving average of $80.29 and a two-hundred day simple moving average of $77.48. The company has a market cap of $56.06 billion, a P/E ratio of 49.31, a PEG ratio of 2.61 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s dividend payout ratio is 42.35%.

About Corteva

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.