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

Corteva (NYSE:CTVA) had its price objective increased by Deutsche Bank Aktiengesellschaft from $83.00 to $90.00 in a research report report published on Monday morning,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other brokerages have also commented on CTVA. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a report on Friday, June 6th. UBS Group boosted their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Corteva Trading Up 1.1%

Corteva stock opened at $70.62 on Monday. Corteva has a one year low of $53.40 and a one year high of $77.41. The business’s fifty day moving average is $72.66 and its 200 day moving average is $68.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The stock has a market capitalization of $47.96 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 1.60 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the business posted $1.83 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Corteva will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva during the 2nd quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Corteva during the fourth quarter worth $27,000. Total Investment Management Inc. purchased a new stake in shares of Corteva during the second quarter valued at $27,000. Curat Global LLC boosted its stake in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Finally, Maryland Capital Advisors Inc. bought a new position in shares of Corteva in the second quarter worth about $29,000. Institutional investors own 81.54% of the company’s stock.

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.