Corteva (NYSE:CTVA – Get Rating) had its price objective decreased by Wells Fargo & Company from $78.00 to $77.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.
A number of other brokerages have also weighed in on CTVA. UBS Group lowered Corteva from a buy rating to a neutral rating and increased their price objective for the company from $70.00 to $73.00 in a report on Tuesday, November 15th. Credit Suisse Group lifted their price objective on shares of Corteva from $72.00 to $74.00 and gave the company an outperform rating in a research note on Friday, November 4th. Barclays lifted their price objective on Corteva from $71.00 to $75.00 and gave the company an overweight rating in a research note on Thursday, November 17th. BMO Capital Markets upped their target price on Corteva from $72.00 to $76.00 and gave the stock an outperform rating in a research note on Monday, November 7th. Finally, Citigroup upped their price objective on shares of Corteva from $72.00 to $74.00 and gave the stock a buy rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $72.53.
Corteva Stock Performance
Shares of Corteva stock opened at $61.50 on Friday. The company has a 50 day moving average price of $61.91 and a 200 day moving average price of $61.69. The firm has a market capitalization of $43.94 billion, a P/E ratio of 39.17, a PEG ratio of 1.27 and a beta of 0.79. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. Corteva has a 52 week low of $48.25 and a 52 week high of $68.43.
Corteva (NYSE:CTVA – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Corteva had a net margin of 6.57% and a return on equity of 7.54%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Sell-side analysts expect that Corteva will post 2.93 EPS for the current year.
Corteva Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, February 28th. Corteva’s payout ratio is currently 38.22%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $313,000. Legacy Bridge LLC grew its position in Corteva by 73.9% in the fourth quarter. Legacy Bridge LLC now owns 433 shares of the company’s stock worth $25,000 after acquiring an additional 184 shares during the period. Greenwood Capital Associates LLC acquired a new stake in Corteva during the fourth quarter worth $25,000. Beacon Capital Management LLC raised its position in Corteva by 82.8% in the fourth quarter. Beacon Capital Management LLC now owns 468 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Corteva in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 79.45% of the company’s stock.
About Corteva
Corteva, Inc is a global provider of seed and crop protection solutions focused on the agriculture industry and contributing to food supply. The firm operates through the following segments: Seed and Crop Protection. The Seed segment is engaged in the developing and supplying of advanced germplasm and traits that produce yield for farms.
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