KeyCorp Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA - Free Report) had its price target increased by KeyCorp from $72.00 to $84.00 in a report published on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on CTVA. Royal Bank Of Canada lifted their target price on Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday. UBS Group boosted their price objective on shares of Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their price target on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Citigroup boosted their target price on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.46.

Corteva Stock Performance

NYSE:CTVA traded down $0.47 during trading hours on Monday, reaching $73.10. The stock had a trading volume of 2,876,243 shares, compared to its average volume of 3,753,670. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The stock has a market cap of $49.87 billion, a P/E ratio of 44.57, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. Corteva has a 12-month low of $50.30 and a 12-month high of $77.41. The stock has a 50 day simple moving average of $71.45 and a 200 day simple moving average of $64.70.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the business earned $0.89 earnings per share. The company's quarterly revenue was down 1.7% on a year-over-year basis. On average, research analysts forecast that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. Corteva's dividend payout ratio is currently 41.46%.

Institutional Trading of Corteva

Several large investors have recently modified their holdings of CTVA. Scissortail Wealth Management LLC raised its holdings in Corteva by 72,080.0% in the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after purchasing an additional 3,604 shares in the last quarter. Allworth Financial LP grew its position in shares of Corteva by 11.8% in the 1st quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after buying an additional 1,614 shares during the period. DnB Asset Management AS increased its stake in shares of Corteva by 39.0% in the 4th quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock worth $13,266,000 after acquiring an additional 65,334 shares in the last quarter. Brighton Jones LLC lifted its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Corteva by 13.9% during the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock worth $279,000 after acquiring an additional 536 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

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.