Corteva (CTVA) – Research Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Corteva (NYSE: CTVA) in the last few weeks:

  • 2/2/2024 – Corteva had its price target raised by analysts at Wells Fargo & Company from $54.00 to $65.00. They now have an “overweight” rating on the stock.
  • 2/2/2024 – Corteva had its price target raised by analysts at KeyCorp from $62.00 to $63.00. They now have an “overweight” rating on the stock.
  • 2/2/2024 – Corteva had its price target raised by analysts at Oppenheimer Holdings Inc. from $60.00 to $62.00. They now have an “outperform” rating on the stock.
  • 2/2/2024 – Corteva had its price target raised by analysts at Royal Bank of Canada from $56.00 to $64.00. They now have an “outperform” rating on the stock.
  • 2/2/2024 – Corteva was upgraded by analysts at BNP Paribas from an “underperform” rating to a “neutral” rating. They now have a $53.00 price target on the stock.
  • 2/2/2024 – Corteva had its price target raised by analysts at Barclays PLC from $50.00 to $55.00. They now have an “equal weight” rating on the stock.
  • 2/1/2024 – Corteva had its price target lowered by analysts at Mizuho from $59.00 to $56.00. They now have a “buy” rating on the stock.
  • 1/11/2024 – Corteva had its price target lowered by analysts at UBS Group AG from $65.00 to $64.00. They now have a “buy” rating on the stock.

Corteva Trading Up 0.6 %

NYSE CTVA opened at $52.09 on Wednesday. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 1.42 and a beta of 0.73. Corteva, Inc. has a one year low of $43.22 and a one year high of $64.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The business’s fifty day moving average is $46.75 and its 200-day moving average is $49.15.

Corteva (NYSE:CTVAGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the previous year, the business posted $0.16 EPS. Equities research analysts predict that Corteva, Inc. will post 2.86 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, February 29th. Corteva’s dividend payout ratio is currently 62.75%.

Insider Activity at Corteva

In other news, EVP Robert D. King acquired 640 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $46.77 per share, for a total transaction of $29,932.80. Following the purchase, the executive vice president now owns 59,701 shares of the company’s stock, valued at approximately $2,792,215.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Robert D. King purchased 640 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $46.77 per share, for a total transaction of $29,932.80. Following the completion of the transaction, the executive vice president now directly owns 59,701 shares in the company, valued at approximately $2,792,215.77. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samuel R. Eathington purchased 1,094 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were bought at an average price of $46.07 per share, for a total transaction of $50,400.58. Following the completion of the transaction, the insider now owns 41,066 shares of the company’s stock, valued at $1,891,910.62. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,084 shares of company stock worth $95,527. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Corteva

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares in the last quarter. Capital World Investors grew its holdings in shares of Corteva by 5.8% during the second quarter. Capital World Investors now owns 38,895,669 shares of the company’s stock worth $2,228,722,000 after purchasing an additional 2,148,207 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Corteva by 1.8% during the second quarter. Geode Capital Management LLC now owns 14,988,480 shares of the company’s stock worth $856,916,000 after purchasing an additional 261,656 shares in the last quarter. Northern Trust Corp boosted its stake in Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after buying an additional 327,321 shares in the last quarter. Finally, Independent Franchise Partners LLP boosted its stake in Corteva by 38.1% in the second quarter. Independent Franchise Partners LLP now owns 11,292,296 shares of the company’s stock worth $647,049,000 after buying an additional 3,115,825 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.

Further Reading

Receive News & Ratings for Corteva Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva Inc and related companies with MarketBeat.com's FREE daily email newsletter.