Corteva (NYSE:CTVA) Given New $72.00 Price Target at BNP Paribas Exane

Corteva (NYSE:CTVA) had its target price raised by BNP Paribas Exane from $70.00 to $72.00 in a research note released on Monday,MarketScreener reports. BNP Paribas Exane currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on CTVA. BMO Capital Markets set a $86.00 price target on shares of Corteva in a research report on Monday, September 15th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. Argus lowered their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Wells Fargo & Company cut their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.05.

Corteva Stock Performance

NYSE CTVA opened at $64.72 on Monday. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a 50 day moving average of $65.36 and a 200-day moving average of $69.68. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $43.73 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.46 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.49) EPS. On average, equities analysts forecast that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Corteva by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares in the last quarter. State Street Corp increased its position in shares of Corteva by 3.6% during the third quarter. State Street Corp now owns 35,280,805 shares of the company’s stock worth $2,386,041,000 after acquiring an additional 1,230,074 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Corteva by 5.9% during the third quarter. Franklin Resources Inc. now owns 18,731,627 shares of the company’s stock worth $1,266,820,000 after acquiring an additional 1,051,389 shares during the period. Geode Capital Management LLC lifted its position in Corteva by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after acquiring an additional 251,693 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its holdings in Corteva by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after purchasing an additional 288,792 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

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.