Corteva (NYSE:CTVA) PT Raised to $67.00

Corteva (NYSE:CTVA) had its price target lifted by Wells Fargo & Company from $66.00 to $67.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an outperform rating in a research report on Friday. Barclays upped their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Canaccord Genuity Group upped their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a buy rating in a research report on Friday. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Finally, UBS Group lowered their price objective on shares of Corteva from $65.00 to $64.00 and set a buy rating for the company in a research report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $63.24.

Corteva Stock Performance

Shares of Corteva stock opened at $56.36 on Friday. The firm has a fifty day moving average of $55.40 and a two-hundred day moving average of $50.69. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 71.34, a PEG ratio of 1.50 and a beta of 0.78. Corteva has a 52 week low of $43.22 and a 52 week high of $59.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities research analysts predict that Corteva will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.14%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently bought and sold shares of the company. &PARTNERS raised its holdings in Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the period. Essex Financial Services Inc. increased its stake in Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after acquiring an additional 215 shares during the last quarter. Baxter Bros Inc. increased its stake in Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares during the last quarter. Albion Financial Group UT increased its stake in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Finally, NewSquare Capital LLC boosted its position in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.