Corteva (NYSE:CTVA) Price Target Raised to $65.00

Corteva (NYSE:CTVA) had its price objective upped by Deutsche Bank Aktiengesellschaft from $62.00 to $65.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. UBS Group decreased their price target on shares of Corteva from $65.00 to $64.00 and set a buy rating on the stock in a report on Thursday, January 11th. Mizuho upped their price objective on Corteva from $56.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reissued a neutral rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Loop Capital raised Corteva from a hold rating to a buy rating and lifted their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a buy rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Corteva presently has a consensus rating of Moderate Buy and an average target price of $63.24.

Corteva Price Performance

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

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts forecast that Corteva will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

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

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Corteva

Several hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in shares of Corteva during the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the 1st quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter worth about $27,000. Rise Advisors LLC raised its stake 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 buying an additional 454 shares during the period. Finally, NewSquare Capital LLC boosted its holdings in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.