Corteva (NYSE:CTVA) Given New $90.00 Price Target at Rothschild & Co Redburn

Corteva (NYSE:CTVA) had its target price boosted by Rothschild & Co Redburn from $80.00 to $90.00 in a report issued on Wednesday,MarketScreener reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on CTVA. Bank of America boosted their price target on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. BNP Paribas Exane raised their price objective on Corteva from $72.00 to $74.00 in a research note on Monday, March 9th. Argus lifted their price objective on Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Berenberg Bank increased their target price on Corteva from $68.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, March 26th. Finally, UBS Group raised their price target on shares of Corteva from $80.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Fourteen research 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 currently has an average rating of “Moderate Buy” and an average target price of $86.38.

Corteva Stock Up 2.3%

Shares of CTVA traded up $1.86 during mid-day trading on Wednesday, reaching $81.23. 831,948 shares of the stock traded hands, compared to its average volume of 3,950,190. The stock has a fifty day simple moving average of $80.31 and a 200 day simple moving average of $71.99. Corteva has a 12-month low of $60.53 and a 12-month high of $85.63. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The firm has a market cap of $54.53 billion, a price-to-earnings ratio of 51.37, a P/E/G ratio of 2.72 and a beta of 0.68.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share 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 business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Sell-side analysts expect that Corteva will post 3.62 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, June 1st. Corteva’s payout ratio is presently 45.57%.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the sale, the insider owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Corteva

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Corteva by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock worth $5,398,392,000 after purchasing an additional 317,538 shares during the last quarter. State Street Corp boosted its position in shares of Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after buying an additional 1,290,071 shares during the period. Franklin Resources Inc. grew its holdings in Corteva by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after buying an additional 805,873 shares in the last quarter. Harris Associates L P increased its position in Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after acquiring an additional 10,675,052 shares during the period. Finally, Northern Trust Corp raised its stake in Corteva by 5.0% during the 4th quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock valued at $786,385,000 after acquiring an additional 562,550 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.