Corteva (NYSE:CTVA) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Corteva (NYSE:CTVA) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 target price on shares of Corteva in a report on Monday, August 3rd. Citigroup raised their price target on shares of Corteva from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Barclays lifted their price objective on shares of Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. boosted their price objective on shares of Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Morgan Stanley increased their target price on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $91.70.

Corteva Trading Down 0.9%

Shares of NYSE:CTVA opened at $75.57 on Tuesday. Corteva has a 12-month low of $60.53 and a 12-month high of $90.97. The stock has a market cap of $50.42 billion, a PE ratio of 50.05, a P/E/G ratio of 2.34 and a beta of 0.57. The business has a 50 day moving average of $81.83 and a 200-day moving average of $80.01. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts forecast that Corteva will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s dividend payout ratio (DPR) is currently 47.68%.

Hedge Funds Weigh In On Corteva

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Corteva by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock valued at $5,398,392,000 after buying an additional 317,538 shares in the last quarter. BlackRock Inc. acquired a new position in Corteva during the second quarter worth about $4,560,180,000. State Street Corp raised its stake in Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Corteva by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after acquiring an additional 805,873 shares during the last quarter. Finally, Harris Associates L P lifted its holdings in shares of Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after acquiring an additional 10,675,052 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.