Corteva (NYSE:CTVA) Hits New 1-Year High – Still a Buy?

Shares of Corteva, Inc. (NYSE:CTVA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $85.56 and last traded at $85.4420, with a volume of 1521428 shares. The stock had previously closed at $84.25.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. Berenberg Bank increased their price objective on Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, March 26th. Mizuho increased their price objective on Corteva from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Citigroup increased their price objective on Corteva from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Oppenheimer set a $86.00 price objective on Corteva in a report on Thursday, February 5th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.19.

Corteva Price Performance

The stock has a market capitalization of $57.30 billion, a price-to-earnings ratio of 54.02, a P/E/G ratio of 2.92 and a beta of 0.68. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $77.86 and a two-hundred day simple moving average of $70.19.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. Corteva had a return on equity of 9.06% and a net margin of 6.29%.The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, March 2nd. Corteva’s dividend payout ratio is 45.57%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 8,311 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the completion of the sale, the insider directly owned 8,090 shares in the company, valued at $619,289.50. This represents a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corteva

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the last quarter. Woodline Partners LP lifted its position in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after acquiring an additional 16,644 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Corteva by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock valued at $191,000 after acquiring an additional 980 shares during the last quarter. Cresset Asset Management LLC lifted its position in shares of Corteva by 2.6% during the 2nd quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock valued at $526,000 after acquiring an additional 181 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at $1,464,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

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.