Analysts Set Corteva, Inc. (NYSE:CTVA) Price Target at $62.00

Shares of Corteva, Inc. (NYSE:CTVA) have received a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $62.00.

Several brokerages have recently issued reports on CTVA. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Mizuho reduced their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Finally, Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CTVA. &PARTNERS lifted its position in Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares during the last quarter. Herr Investment Group LLC raised its position in shares of Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after acquiring an additional 203 shares during the last quarter. Baxter Bros Inc. grew its position in Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after acquiring an additional 215 shares in the last quarter. Finally, Albion Financial Group UT increased its stake in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $51.56 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. The firm has a 50-day moving average of $53.08 and a 200-day moving average of $54.20. Corteva has a one year low of $43.22 and a one year high of $58.76. The company has a market cap of $35.94 billion, a P/E ratio of 65.27, a P/E/G ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the business posted $1.60 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts forecast that Corteva will post 2.73 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is 86.08%.

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.