Royal Bank of Canada Boosts Corteva (NYSE:CTVA) Price Target to $64.00

Corteva (NYSE:CTVA) had its price objective raised by Royal Bank of Canada from $62.00 to $64.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also weighed in on the company. UBS Group lowered their price objective on Corteva from $65.00 to $64.00 and set a buy rating for the company in a report on Thursday, January 11th. Mizuho lifted their price objective on shares of Corteva from $56.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. KeyCorp upped their price target 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. Wolfe Research assumed coverage on Corteva in a report on Friday, March 1st. They set an outperform rating and a $67.00 price objective for the company. Finally, BMO Capital Markets boosted their price target on Corteva from $64.00 to $67.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $63.24.

Corteva Price Performance

Shares of CTVA opened at $56.82 on Monday. The stock’s 50 day moving average is $55.45 and its two-hundred day moving average is $50.74. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $39.60 billion, a PE ratio of 71.92, a P/E/G ratio of 1.50 and a beta of 0.78. Corteva has a twelve month low of $43.22 and a twelve month high of $58.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts anticipate that Corteva will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Insiders Place Their Bets

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Corteva

Several hedge funds and other institutional investors have recently made changes to their positions in CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva during the 1st quarter valued at $25,000. Rise Advisors LLC boosted its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT lifted its holdings 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 period. CVA Family Office LLC acquired a new stake in Corteva during the fourth quarter valued at $25,000. Finally, Ironwood Wealth Management Inc. boosted its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors 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.