Corteva (NYSE:CTVA) Price Target Raised to $61.00

Corteva (NYSE:CTVA) had its price objective upped by Mizuho from $56.00 to $61.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

CTVA has been the subject of a number of other research reports. TheStreet upgraded shares of Corteva from a c+ rating to a b- rating in a research note on Tuesday, February 27th. KeyCorp lifted their price target on shares of Corteva from $63.00 to $66.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. UBS Group decreased their price target on shares of Corteva from $65.00 to $64.00 and set a buy rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company lifted their price target on shares of Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a $57.00 price target (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 fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $63.38.

Corteva Trading Up 0.3 %

NYSE CTVA opened at $57.16 on Thursday. The firm has a 50 day simple moving average of $55.37 and a 200-day simple moving average of $50.65. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.51. Corteva has a one year low of $43.22 and a one year high of $60.57. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 72.35, a PEG ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 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 during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Corteva will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors 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 dividend on an annualized basis and a yield of 1.12%. Corteva’s dividend payout ratio (DPR) is 81.01%.

Hedge Funds Weigh In On Corteva

Hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in Corteva in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new position in Corteva in the 1st quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in Corteva in the 4th quarter valued at $27,000. Rise Advisors LLC boosted its position in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. Finally, NewSquare Capital LLC boosted its position 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 purchasing an additional 226 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.