Corteva (NYSE:CTVA) PT Raised to $65.00

Corteva (NYSE:CTVA) had its price objective boosted by Canaccord Genuity Group from $60.00 to $65.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their price objective on Corteva from $56.00 to $64.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. UBS Group lowered their price objective on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a research note on Thursday, January 11th. Loop Capital raised Corteva from a hold rating to a buy rating and boosted their price objective for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. reissued a neutral rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six equities 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, the stock currently has a consensus rating of Moderate Buy and an average price target of $63.24.

Corteva Stock Down 1.4 %

Corteva stock opened at $56.36 on Friday. The stock has a market capitalization of $39.28 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva has a 12 month low of $43.22 and a 12 month high of $59.04. The business has a 50 day simple moving average of $55.40 and a 200-day simple moving average of $50.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts anticipate that Corteva will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Hedge Funds Weigh In On Corteva

Several hedge funds have recently bought and sold shares of CTVA. Stratos Wealth Partners LTD. lifted its stake in Corteva by 14.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock worth $603,000 after acquiring an additional 1,506 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Corteva by 9.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,932,869 shares of the company’s stock worth $354,686,000 after acquiring an additional 585,063 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in Corteva by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 344,500 shares of the company’s stock worth $17,625,000 after acquiring an additional 5,100 shares in the last quarter. Forsta AP Fonden lifted its stake in Corteva by 5.1% during the 3rd quarter. Forsta AP Fonden now owns 141,800 shares of the company’s stock worth $7,254,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Northstar Asset Management LLC increased its holdings in Corteva by 10.0% during the 3rd quarter. Northstar Asset Management LLC now owns 6,320 shares of the company’s stock worth $323,000 after purchasing an additional 575 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.