Corteva (NYSE:CTVA) Price Target Raised to $96.00 at Bank of America

Corteva (NYSE:CTVA) had its price objective increased by Bank of America from $90.00 to $96.00 in a research note published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Citigroup lifted their price objective on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft increased their target price on Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Morgan Stanley raised their price target on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Mizuho upped their price objective on Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.62.

Corteva Stock Down 0.5%

CTVA stock opened at $86.85 on Monday. The company’s 50 day moving average price is $80.94 and its 200 day moving average price is $78.40. The firm has a market capitalization of $58.09 billion, a price-to-earnings ratio of 51.09, a PEG ratio of 2.67 and a beta of 0.56. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $88.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts anticipate that Corteva will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva’s dividend payout ratio (DPR) is 42.35%.

Institutional Investors Weigh In On Corteva

Several hedge funds and other institutional investors have recently bought and sold shares of CTVA. Elevation Wealth Partners LLC grew its holdings in shares of Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock worth $29,000 after purchasing an additional 261 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at about $25,000. Westfuller Advisors LLC lifted its holdings in shares of Corteva by 2,764.3% in the 1st quarter. Westfuller Advisors LLC now owns 401 shares of the company’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $27,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Corteva in the 4th quarter valued at about $28,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.