Corteva (NYSE:CTVA) Price Target Increased to $67.00 by Analysts at BMO Capital Markets

Corteva (NYSE:CTVA) had its price target lifted by BMO Capital Markets from $64.00 to $67.00 in a report released on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on CTVA. Oppenheimer boosted their price target on Corteva from $67.00 to $69.00 and gave the company an outperform rating in a research note on Friday. Loop Capital raised shares of Corteva from a hold rating to a buy rating and increased their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. BNP Paribas raised shares of Corteva from an underperform rating to a neutral rating and set a $53.00 price objective on the stock in a research report on Friday, February 2nd. Finally, Wolfe Research assumed coverage on Corteva in a research note on Friday, March 1st. They set an outperform rating and a $67.00 price target on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Corteva currently has an average rating of Moderate Buy and a consensus price target of $63.38.

Corteva Trading Up 0.3 %

NYSE:CTVA traded up $0.18 on Friday, reaching $57.16. 2,977,563 shares of the stock traded hands, compared to its average volume of 2,761,026. The firm has a market capitalization of $39.95 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.49 and a beta of 0.78. Corteva has a 1-year low of $43.22 and a 1-year high of $60.57. The company has a current ratio of 1.51, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $55.37 and its 200-day moving average is $50.66.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (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 for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts anticipate that Corteva will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Hedge Funds Weigh In On Corteva

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares during the last quarter. Capital International Investors lifted its stake in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the period. Northern Trust Corp lifted its position in shares of Corteva by 2.5% during the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after acquiring an additional 617,030 shares during the period. 81.54% of the stock is 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.