Corteva (NYSE:CTVA) Price Target Raised to $80.00 at Wolfe Research

Corteva (NYSE:CTVA) had its price target lifted by Wolfe Research from $79.00 to $80.00 in a research report sent to investors on Thursday,MarketScreener reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a report on Thursday, October 2nd. BMO Capital Markets set a $86.00 price objective on Corteva in a research note on Monday, September 15th. The Goldman Sachs Group decreased their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Argus reduced their price target on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.35.

Corteva Trading Up 1.4%

Shares of NYSE:CTVA traded up $0.90 during midday trading on Thursday, reaching $64.05. The company had a trading volume of 3,686,819 shares, compared to its average volume of 4,515,587. The company has a fifty day simple moving average of $66.41 and a two-hundred day simple moving average of $69.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.23 and a current ratio of 1.58. The firm has a market cap of $43.49 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41.

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. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the company posted ($0.49) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts predict that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.18 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s payout ratio is 30.77%.

Insider Buying and Selling

In other 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 transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Corteva

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Corteva by 42.5% during the first quarter. TD Private Client Wealth LLC now owns 3,709 shares of the company’s stock valued at $233,000 after purchasing an additional 1,107 shares during the last quarter. Allworth Financial LP raised its position in shares of Corteva by 11.8% in the first quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock valued at $945,000 after purchasing an additional 1,614 shares during the period. Cerity Partners LLC lifted its stake in shares of Corteva by 5.4% in the first quarter. Cerity Partners LLC now owns 241,508 shares of the company’s stock worth $15,198,000 after buying an additional 12,427 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Corteva by 0.4% during the 1st quarter. Xponance Inc. now owns 143,728 shares of the company’s stock worth $9,045,000 after buying an additional 536 shares during the period. Institutional investors own 81.54% of the company’s stock.

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.