Corteva (NYSE:CTVA) Price Target Raised to $90.00 at UBS Group

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

Several other equities analysts have also recently weighed in on CTVA. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a report on Friday, June 6th. KeyCorp lifted their price target on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Citigroup increased their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Barclays upped their target price on shares of Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, BMO Capital Markets boosted their price target on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.62.

Corteva Trading Down 0.3%

Shares of NYSE:CTVA traded down $0.20 during mid-day trading on Wednesday, reaching $76.25. The stock had a trading volume of 6,570,421 shares, compared to its average volume of 3,418,776. The firm has a market cap of $52.02 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The firm has a 50 day simple moving average of $70.69 and a two-hundred day simple moving average of $64.28. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva has a twelve month low of $50.30 and a twelve month high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business posted $0.89 earnings per share. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm 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 0.89%. Corteva's dividend payout ratio is 41.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new position in shares of Corteva during the fourth quarter worth approximately $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $31,000. Valley National Advisers Inc. boosted its stake in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after buying an additional 243 shares during the period. Finally, Richardson Capital Management LLC bought a new position in Corteva during the 1st quarter worth $37,000. 81.54% of the stock is currently owned by 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.