Citigroup Inc. Sells 342,341 Shares of Corteva, Inc. $CTVA

Citigroup Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,456,673 shares of the company’s stock after selling 342,341 shares during the quarter. Citigroup Inc. owned 0.36% of Corteva worth $166,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after buying an additional 373,680 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Corteva by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after acquiring an additional 251,693 shares during the period. Franklin Resources Inc. grew its position in shares of Corteva by 4.9% during the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after acquiring an additional 824,451 shares during the period. Norges Bank bought a new stake in shares of Corteva in the 2nd quarter worth approximately $434,220,000. Finally, Bank of New York Mellon Corp lifted its stake in Corteva by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 5,256,845 shares of the company’s stock valued at $391,793,000 after purchasing an additional 138,484 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $88.00 target price on shares of Corteva in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered Corteva from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $75.00 to $77.00 in a report on Thursday, February 5th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. UBS Group downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Rothschild & Co Redburn dropped their price target on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.30.

Corteva Trading Down 1.1%

Shares of Corteva stock opened at $76.20 on Friday. The company’s 50-day moving average price is $70.71 and its 200-day moving average price is $68.58. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a market cap of $51.25 billion, a price-to-earnings ratio of 48.23, a PEG ratio of 2.60 and a beta of 0.75.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. Corteva’s revenue for the quarter was down 1.7% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be 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 is Monday, March 2nd. Corteva’s dividend payout ratio (DPR) is 45.57%.

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.