Corteva (NYSE:CTVA) PT Raised to $68.00

Corteva (NYSE:CTVAGet Rating) had its target price hoisted by Mizuho from $67.00 to $68.00 in a research report report published on Friday morning, The Fly reports. Mizuho currently has a maintains rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of Corteva in a research report on Wednesday, June 1st. They set an overweight rating and a $71.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Corteva from $64.00 to $72.00 in a research report on Tuesday, May 31st. KeyCorp raised their price target on shares of Corteva from $58.00 to $63.00 and gave the company an overweight rating in a research report on Tuesday, April 5th. Credit Suisse Group initiated coverage on shares of Corteva in a research report on Thursday, July 14th. They set an outperform rating and a $68.00 price target for the company. Finally, UBS Group reduced their price target on shares of Corteva from $68.00 to $64.00 in a research report on Wednesday, July 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $63.40.

Corteva Price Performance

CTVA stock opened at $56.90 on Friday. The firm has a 50 day moving average price of $56.25 and a 200-day moving average price of $54.97. Corteva has a 52-week low of $40.72 and a 52-week high of $64.03. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.13 and a current ratio of 1.64.

Corteva (NYSE:CTVAGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.16. Corteva had a net margin of 10.72% and a return on equity of 6.70%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business earned $0.79 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Corteva will post 2.55 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 1.05%. This is an increase from Corteva’s previous quarterly dividend of $0.14. Corteva’s dividend payout ratio (DPR) is 23.83%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in Corteva by 1.2% during the 2nd quarter. Parallel Advisors LLC now owns 28,858 shares of the company’s stock valued at $1,562,000 after purchasing an additional 332 shares during the period. Empirical Finance LLC raised its stake in Corteva by 5.5% during the 2nd quarter. Empirical Finance LLC now owns 14,976 shares of the company’s stock valued at $811,000 after purchasing an additional 787 shares during the period. Essex LLC raised its stake in Corteva by 1.5% during the 2nd quarter. Essex LLC now owns 17,264 shares of the company’s stock valued at $935,000 after purchasing an additional 258 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new position in Corteva during the 2nd quarter valued at approximately $26,000. Finally, Calamos Advisors LLC grew its holdings in Corteva by 2.8% during the 2nd quarter. Calamos Advisors LLC now owns 243,965 shares of the company’s stock valued at $13,208,000 after buying an additional 6,570 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

About Corteva

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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.

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