Corteva (NYSE:CTVA) Price Target Raised to $80.00 at CICC Research

Corteva (NYSE:CTVA) had its price target raised by CICC Research from $70.00 to $80.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company raised their price target on Corteva from $77.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen cut Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. BNP Paribas Exane raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. Citigroup upped their target price on shares of Corteva from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, UBS Group lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.20.

Corteva Stock Up 0.5%

Shares of Corteva stock traded up $0.40 on Wednesday, reaching $75.72. 376,706 shares of the company were exchanged, compared to its average volume of 3,989,926. The stock’s 50 day moving average price is $69.34 and its 200-day moving average price is $68.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a market cap of $51.17 billion, a P/E ratio of 47.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.75.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, equities analysts forecast that Corteva will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd. Corteva’s dividend payout ratio (DPR) is 45.57%.

Hedge Funds Weigh In On Corteva

Institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC raised its position in Corteva by 18.1% in the third quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock worth $30,119,000 after acquiring an additional 68,380 shares in the last quarter. TriaGen Wealth Management LLC bought a new stake in Corteva during the third quarter worth approximately $4,284,000. New York State Teachers Retirement System increased its holdings in shares of Corteva by 4.5% in the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock valued at $37,290,000 after buying an additional 23,548 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Corteva by 4.5% during the 3rd quarter. Truist Financial Corp now owns 321,913 shares of the company’s stock worth $21,771,000 after acquiring an additional 13,910 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Corteva by 27.4% during the third quarter. Nordea Investment Management AB now owns 75,675 shares of the company’s stock valued at $5,103,000 after purchasing an additional 16,261 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.