Corteva (NYSE:CTVA) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Corteva (NYSE:CTVA) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on CTVA. Barclays boosted their target price on shares of Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. CICC Research lifted their price objective on Corteva from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Rothschild & Co Redburn increased their target price on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Corteva from $90.00 to $100.00 in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.95.

Corteva Price Performance

Corteva stock opened at $84.91 on Monday. The company’s fifty day moving average price is $80.53 and its 200 day moving average price is $77.87. Corteva has a 1 year low of $60.53 and a 1 year high of $87.69. The stock has a market capitalization of $56.79 billion, a P/E ratio of 49.95, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities research analysts anticipate that Corteva will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s dividend payout ratio (DPR) is 42.35%.

Institutional Investors Weigh In On Corteva

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