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

Corteva (NYSE:CTVA) had its target price increased by KeyCorp from $71.00 to $72.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Corteva Trading Up 1.3%

Corteva stock opened at $67.70 on Friday. The firm has a market cap of $46.24 billion, a PE ratio of 52.48, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva has a 12 month low of $50.01 and a 12 month high of $67.93. The stock’s 50 day simple moving average is $60.87 and its two-hundred day simple moving average is $60.74. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the previous year, the business posted $0.89 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Insider Buying and Selling

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Trading of Corteva

Hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP lifted its position in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after buying an additional 5,604,838 shares in the last quarter. Norges Bank purchased a new position in Corteva during the fourth quarter worth approximately $251,892,000. Raymond James Financial Inc. acquired a new position in Corteva during the fourth quarter worth $161,052,000. Finally, Franklin Resources Inc. grew its holdings in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after buying an additional 1,354,418 shares in the last quarter. Institutional investors and hedge funds 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.