Corteva’s (CTVA) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Corteva (NYSE:CTVA) in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $57.00 price target on the stock, down from their prior price target of $58.00.

CTVA has been the subject of a number of other research reports. Loop Capital upgraded Corteva from a hold rating to a buy rating and increased their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. UBS Group lowered their price target on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a report on Thursday, January 11th. KeyCorp increased their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an overweight rating in a report on Tuesday, April 9th. TheStreet upgraded shares of Corteva from a c+ rating to a b- rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $63.05.

Corteva Stock Down 0.2 %

NYSE CTVA opened at $53.67 on Friday. The stock’s 50-day moving average price is $55.17 and its 200-day moving average price is $50.20. The company has a market capitalization of $37.51 billion, a P/E ratio of 52.62, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva has a 52 week low of $43.22 and a 52 week high of $63.06.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for 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 last year, the business earned $0.16 EPS. On average, equities research analysts predict that Corteva will post 2.86 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Hedge Funds Weigh In On Corteva

Hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in shares of Corteva in the first quarter worth approximately $45,000. Cibc World Market Inc. lifted its position in shares of Corteva by 420.1% during the first quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock worth $2,178,000 after purchasing an additional 30,605 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Corteva by 2.9% during the first quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock worth $5,432,000 after purchasing an additional 2,662 shares during the last quarter. Aviva PLC grew its holdings in shares of Corteva by 38.1% in the first quarter. Aviva PLC now owns 146,289 shares of the company’s stock worth $8,409,000 after purchasing an additional 40,391 shares during the last quarter. Finally, Prudential PLC purchased a new position in Corteva in the 1st quarter worth about $799,000. 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.