Corteva (NYSE:CTVA) Price Target Increased to $66.00 by Analysts at KeyCorp

Corteva (NYSE:CTVA) had its target price boosted by KeyCorp from $63.00 to $66.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Corteva in a research note on Friday, March 1st. They issued an outperform rating and a $67.00 price target for the company. TheStreet raised shares of Corteva from a c+ rating to a b- rating in a research note on Tuesday, February 27th. Loop Capital raised shares of Corteva from a hold rating to a buy rating and increased their price objective for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Wells Fargo & Company increased their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Finally, Mizuho lowered their price objective on shares of Corteva from $59.00 to $56.00 and set a buy rating for the company in a research report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva currently has an average rating of Moderate Buy and an average target price of $63.29.

Corteva Stock Down 0.0 %

Shares of NYSE CTVA opened at $57.51 on Tuesday. Corteva has a 12-month low of $43.22 and a 12-month high of $63.37. The stock has a market cap of $40.19 billion, a PE ratio of 56.38, a P/E/G ratio of 1.46 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $54.84 and a 200 day moving average of $50.08.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, sell-side analysts predict that Corteva will post 2.87 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s payout ratio is 62.75%.

Institutional Investors Weigh In On Corteva

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in Corteva during the second quarter worth about $28,000. CVA Family Office LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Corteva in the second quarter valued at approximately $31,000. Finally, NewSquare Capital LLC grew its holdings 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 purchasing an additional 226 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

About Corteva

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.