Corteva (NYSE:CTVA) Price Target Raised to $96.00

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

Several other analysts also recently issued reports on CTVA. Weiss Ratings raised shares of Corteva from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Barclays raised their target price on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Argus lifted their price target on Corteva from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Morgan Stanley upped their price target on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Finally, Rothschild & Co Redburn increased their price objective on Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $89.90.

Corteva Stock Performance

Corteva stock opened at $88.56 on Monday. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $88.57. The firm’s 50 day simple moving average is $81.13 and its 200-day simple moving average is $78.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The company has a market cap of $59.23 billion, a P/E ratio of 52.09, a price-to-earnings-growth ratio of 2.64 and a beta of 0.56.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. 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. As a group, equities research analysts predict that Corteva will post 3.75 EPS for the current year.

Corteva Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Corteva by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock valued at $5,398,392,000 after buying an additional 317,538 shares in the last quarter. State Street Corp increased its holdings in Corteva by 3.7% in the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after buying an additional 1,290,071 shares during the last quarter. Franklin Resources Inc. raised its position in Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after acquiring an additional 805,873 shares in the last quarter. Harris Associates L P lifted its stake in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after acquiring an additional 10,675,052 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Corteva by 5.0% in the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock valued at $786,385,000 after acquiring an additional 562,550 shares during the last quarter. 81.54% of the stock is 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.