Oppenheimer Increases Corteva (NYSE:CTVA) Price Target to $67.00

Corteva (NYSE:CTVA) had its price target upped by Oppenheimer from $62.00 to $67.00 in a research report report published on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on CTVA. JPMorgan Chase & Co. reiterated a neutral rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. UBS Group reduced their price objective on shares of Corteva from $65.00 to $64.00 and set a buy rating for the company in a report on Thursday, January 11th. KeyCorp raised their target price on shares of Corteva from $63.00 to $66.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Loop Capital upgraded shares of Corteva from a hold rating to a buy rating and boosted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, Mizuho decreased their price objective on shares of Corteva from $59.00 to $56.00 and set a buy rating for the company in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $63.29.

Corteva Stock Up 1.6 %

Corteva stock opened at $54.80 on Tuesday. The firm has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a P/E/G ratio of 1.40 and a beta of 0.77. The company has a 50-day simple moving average of $55.23 and a 200-day simple moving average of $50.30. Corteva has a one year low of $43.22 and a one year high of $62.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, equities analysts expect that Corteva will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

Institutional Trading of Corteva

Large investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its position in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Corteva in the 3rd quarter valued at about $1,258,000. 17 Capital Partners LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $1,649,000. Factory Mutual Insurance Co. boosted its holdings in shares of Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after purchasing an additional 68,593 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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.