Corteva (NYSE:CTVA) Price Target Raised to $72.00

Corteva (NYSE:CTVA) had its price objective lifted by KeyCorp from $71.00 to $72.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Citigroup boosted their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Corteva Trading Up 1.3%

Shares of NYSE CTVA opened at $67.70 on Friday. Corteva has a fifty-two week low of $50.01 and a fifty-two week high of $67.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $46.24 billion, a price-to-earnings ratio of 52.48, a PEG ratio of 1.68 and a beta of 0.72. The business’s 50 day moving average price is $60.87 and its 200-day moving average price is $60.74.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the company posted $0.89 EPS. Corteva’s quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.00%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Corteva

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 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.