KeyCorp Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its price objective boosted by KeyCorp from $71.00 to $72.00 in a report issued on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on CTVA. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Monday, March 31st. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Corteva Price Performance

Shares of Corteva stock opened at $67.70 on Friday. The business’s 50-day moving average price is $60.87 and its 200-day moving average price is $60.74. The firm has a market capitalization of $46.24 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva has a 12 month low of $50.01 and a 12 month high of $67.93. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.00%. Corteva’s payout ratio is 41.46%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corteva

Several large investors have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in Corteva by 7,500.0% during the 1st quarter. Headlands Technologies LLC now owns 2,204 shares of the company’s stock valued at $139,000 after purchasing an additional 2,175 shares in the last quarter. Deutsche Bank AG increased its position in shares of Corteva by 8.3% during the first quarter. Deutsche Bank AG now owns 4,389,359 shares of the company’s stock valued at $276,222,000 after acquiring an additional 337,278 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Corteva by 6.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 14,115 shares of the company’s stock worth $882,000 after acquiring an additional 833 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Corteva by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,912,145 shares of the company’s stock valued at $309,121,000 after acquiring an additional 220,407 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Corteva by 5.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 17,643 shares of the company’s stock valued at $1,110,000 after purchasing an additional 919 shares during the last quarter. Hedge funds and other 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.