Corteva, Inc. (NYSE:CTVA - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $79.00 to $82.00. Wells Fargo & Company currently has an overweight rating on the stock. Corteva traded as high as $74.86 and last traded at $74.60, with a volume of 465967 shares trading hands. The stock had previously closed at $73.72.
Several other brokerages have also weighed in on CTVA. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Barclays raised their price target on shares of Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Morgan Stanley upped their price objective on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Finally, KeyCorp upped their price target on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $72.08.
View Our Latest Stock Analysis on CTVA
Hedge Funds Weigh In On Corteva
Large investors have recently bought and sold shares of the stock. Ancora Advisors LLC lifted its stake in shares of Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company's stock valued at $1,168,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC raised its holdings in Corteva by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company's stock valued at $1,979,000 after acquiring an additional 152 shares in the last quarter. Plancorp LLC lifted its position in shares of Corteva by 2.3% in the 1st quarter. Plancorp LLC now owns 7,156 shares of the company's stock worth $450,000 after acquiring an additional 158 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company's stock worth $237,000 after purchasing an additional 160 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Corteva Trading Up 1.6%
The business has a 50-day moving average price of $67.14 and a 200-day moving average price of $62.92. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $51.09 billion, a P/E ratio of 45.64, a PEG ratio of 1.88 and a beta of 0.75.
Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business's revenue was down 1.7% on a year-over-year basis. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.
Corteva Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's payout ratio is 41.46%.
About Corteva
(
Get Free Report)
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.
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