Analysts Set Corteva, Inc. (NYSE:CTVA) Price Target at $80.25

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $80.25.

Several analysts recently weighed in on the company. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Citigroup cut Corteva from a “neutral” rating to a “mixed” rating in a research report on Friday, September 5th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Finally, Zacks Research raised Corteva to a “hold” rating in a research report on Friday, August 8th.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corteva

A number of institutional investors have recently bought and sold shares of the stock. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the second quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in Corteva in the fourth quarter worth about $27,000. Total Investment Management Inc. purchased a new position in Corteva in the second quarter worth about $27,000. Curat Global LLC boosted its position in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the period. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of Corteva during the second quarter valued at approximately $29,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Corteva stock opened at $73.04 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $49.60 billion, a P/E ratio of 35.63, a PEG ratio of 1.64 and a beta of 0.78. The stock’s 50 day moving average is $73.07 and its 200 day moving average is $68.03. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 EPS. On average, equities research analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 35.12%.

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.