Corteva (NYSE:CTVA) Price Target Raised to $93.00

Corteva (NYSE:CTVA) had its target price boosted by CICC Research from $80.00 to $93.00 in a report issued on Wednesday morning,MarketScreener reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on CTVA. The Goldman Sachs Group lifted 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. UBS Group lifted their target price on shares of Corteva from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Wolfe Research lifted their target price on shares of Corteva from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Argus lifted their target price on shares of Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Thirteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $88.14.

Corteva Stock Down 1.4%

CTVA stock opened at $82.17 on Wednesday. The firm has a market cap of $54.95 billion, a PE ratio of 48.33, a PEG ratio of 2.56 and a beta of 0.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The firm’s 50 day moving average price is $81.11 and its 200-day moving average price is $73.37. Corteva has a one year low of $60.53 and a one year high of $85.63.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts anticipate that Corteva will post 3.7 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva’s payout ratio is 42.35%.

Insider Activity at Corteva

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

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management grew its stake in shares of Corteva by 118.3% during the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Corteva during the third quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Corteva during the fourth quarter worth $28,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the third quarter worth $29,000. 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.