Corteva (NYSE:CTVA) Price Target Raised to $83.00

Corteva (NYSE:CTVA) had its target price boosted by JPMorgan Chase & Co. from $77.00 to $83.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on CTVA. Wells Fargo & Company increased their price target on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. BMO Capital Markets lifted their price target on Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group increased their price target on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Barclays raised their price target on shares of Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group boosted their price objective on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Corteva Trading Up 0.7%

Shares of CTVA opened at $78.82 on Monday. The company’s fifty day moving average is $82.03 and its 200 day moving average is $79.79. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $90.97. The stock has a market capitalization of $52.59 billion, a PE ratio of 52.20, a P/E/G ratio of 2.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Corteva’s revenue was down 1.2% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Sell-side analysts expect that Corteva will post 3.74 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is 47.68%.

Hedge Funds Weigh In On Corteva

Several hedge funds have recently modified their holdings of the stock. William B. Walkup & Associates Inc. boosted its stake in shares of Corteva by 2.9% during the first quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company’s stock valued at $373,000 after acquiring an additional 126 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in Corteva by 6.7% in the 1st quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock valued at $177,000 after purchasing an additional 133 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Corteva by 2.4% during the 1st quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company’s stock worth $477,000 after purchasing an additional 135 shares during the last quarter. First Horizon Corp grew its holdings in shares of Corteva by 9.2% during the first quarter. First Horizon Corp now owns 1,600 shares of the company’s stock worth $134,000 after buying an additional 135 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its position in shares of Corteva by 1.3% in the first quarter. Aviance Capital Partners LLC now owns 11,008 shares of the company’s stock valued at $922,000 after buying an additional 137 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.