Corteva (NYSE:CTVA) Given New $90.00 Price Target at UBS Group

Corteva (NYSE:CTVA - Free Report) had its price target increased by UBS Group from $76.00 to $90.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on CTVA. The Goldman Sachs Group initiated coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a report on Tuesday. KeyCorp raised their price objective on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Oppenheimer reissued an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, Argus raised shares of 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $75.54.

Corteva Stock Down 1.8%

Corteva stock traded down $1.33 during trading on Wednesday, reaching $73.50. The stock had a trading volume of 4,389,838 shares, compared to its average volume of 3,431,289. Corteva has a 52-week low of $50.30 and a 52-week high of $77.41. The business has a 50 day moving average price of $71.23 and a 200 day moving average price of $64.48. 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 stock has a market cap of $50.14 billion, a PE ratio of 44.82, a P/E/G ratio of 1.91 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) 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 company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm's quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts predict that Corteva will post 2.96 EPS for the current year.

Corteva Dividend Announcement

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

Hedge Funds Weigh In On Corteva

Several institutional investors have recently bought and sold shares of the company. Moody National Bank Trust Division grew its stake in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company's stock worth $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC grew its stake in shares of Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company's stock worth $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC grew its stake in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company's stock worth $1,979,000 after purchasing an additional 152 shares during the period. Plancorp LLC grew its stake in shares of Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company's stock worth $450,000 after purchasing an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. grew its stake 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 during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

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.