Corteva (CTVA) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Corteva (NYSE: CTVA) in the last few weeks:

• 5/6/2024 – Corteva had its price target raised by analysts at Royal Bank of Canada from $62.00 to $64.00. They now have an “outperform” rating on the stock.
• 5/6/2024 – Corteva had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $65.00. They now have a “buy” rating on the stock.
• 5/3/2024 – Corteva had its price target raised by analysts at Wells Fargo & Company from $66.00 to $67.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Corteva had its price target raised by analysts at BMO Capital Markets from $64.00 to $67.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Corteva had its price target raised by analysts at Oppenheimer Holdings Inc. from $67.00 to $69.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Corteva had its price target raised by analysts at Canaccord Genuity Group Inc. from $60.00 to $65.00. They now have a “buy” rating on the stock.
• 5/2/2024 – Corteva had its price target raised by analysts at Mizuho from $56.00 to $61.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Corteva had its price target raised by analysts at Oppenheimer Holdings Inc. from $62.00 to $67.00. They now have an “outperform” rating on the stock.
• 4/12/2024 – Corteva had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $57.00 price target on the stock, down previously from $58.00.
• 4/10/2024 – Corteva had its price target raised by analysts at Barclays PLC from $55.00 to $58.00. They now have an “equal weight” rating on the stock.
• 4/9/2024 – Corteva had its price target raised by analysts at KeyCorp from $63.00 to $66.00. They now have an “overweight” rating on the stock.

Corteva Stock Performance

NYSE CTVA traded up $0.20 during midday trading on Wednesday, hitting $56.85. The company had a trading volume of 473,244 shares, compared to its average volume of 3,570,697. The firm has a fifty day simple moving average of $56.00 and a two-hundred day simple moving average of $51.33. The stock has a market cap of $39.62 billion, a price-to-earnings ratio of 71.96, a P/E/G ratio of 1.50 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.81.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. Equities analysts forecast that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corteva

Several hedge funds have recently added to or reduced their stakes in CTVA. CVA Family Office LLC bought a new stake in Corteva in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC bought a new position in shares of Corteva during the first quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at approximately $27,000. Finally, Rise Advisors LLC boosted its position in 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 acquiring an additional 454 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.