Phoenix Financial Ltd. Purchases 1,108,309 Shares of Corteva, Inc. $CTVA

Phoenix Financial Ltd. grew its position in Corteva, Inc. (NYSE:CTVA) by 15,365.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,115,522 shares of the company’s stock after purchasing an additional 1,108,309 shares during the quarter. Phoenix Financial Ltd.’s holdings in Corteva were worth $86,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Corteva during the second quarter valued at approximately $4,560,180,000. Wellington Management Group LLP increased its position in shares of Corteva by 941.7% during the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock valued at $644,720,000 after acquiring an additional 6,881,875 shares in the last quarter. Royal Bank of Canada increased its position in shares of Corteva by 202.1% during the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after acquiring an additional 4,989,371 shares in the last quarter. Jupiter Topco LLC purchased a new position in Corteva in the 2nd quarter worth approximately $544,246,000. Finally, Bank of America Corp DE purchased a new position in Corteva in the 2nd quarter worth approximately $484,927,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA stock traded up $0.23 on Friday, hitting $9.41. The company had a trading volume of 28,888,260 shares, compared to its average volume of 21,957,566. Corteva, Inc. has a 12-month low of $9.01 and a 12-month high of $90.97. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $37.22 and its 200 day simple moving average is $69.57. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 1.72 and a beta of 0.58.

Corteva Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a negative change from Corteva’s previous quarterly dividend of $0.18. Corteva’s payout ratio is currently 47.68%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several analyst reports. Wall Street Zen cut Corteva from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 target price on shares of Corteva in a report on Thursday, October 8th. Argus reissued a “buy” rating and issued a $91.00 target price on shares of Corteva in a report on Friday, September 18th. BMO Capital Markets set a $15.00 price target on Corteva in a research note on Friday, October 2nd. Finally, Zacks Research downgraded Corteva from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Recent Corteva Headlines

Here are a few of the latest headlines about CTVA:

• Neutral Sentiment: Several analysts lowered price targets following the outlook reset. Citigroup and UBS kept neutral ratings, while JPMorgan maintained overweight and RBC kept outperform ratings, signaling some analysts still see potential upside from recent levels. Read More. · Read More. · Read More. · Read More.
• Negative Sentiment: The earnings miss and lowered full-year outlook are the key near-term headwinds, with Brazil weakness and competitive pricing hurting results. Reuters report on Brazil weakness and forecast cut
• Negative Sentiment: Law firms announced investigations into potential securities-law violations related to company disclosures. These are allegations under investigation, not findings of wrongdoing, but may add uncertainty for investors. Law firm investigation announcement

About Corteva

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.