Corteva (NYSE:CTVA) Hits New 12-Month High – Still a Buy?

Shares of Corteva, Inc. (NYSE:CTVA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.85 and last traded at $85.5690, with a volume of 404426 shares traded. The stock had previously closed at $84.69.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Rothschild & Co Redburn increased their price target on shares of Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Citigroup increased their price objective on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, BNP Paribas Exane raised their target price on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.81.

Corteva Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The firm has a market capitalization of $56.85 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.57. The firm’s 50 day moving average price is $79.51 and its 200-day moving average price is $76.54.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts expect that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva’s dividend payout ratio is presently 42.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new position in Corteva during the first quarter worth approximately $142,000. Farmers National Bank purchased a new position in shares of Corteva during the 1st quarter worth $211,000. Midwest Financial Network LLC grew its holdings in shares of Corteva by 16.2% in the first quarter. Midwest Financial Network LLC now owns 4,687 shares of the company’s stock valued at $392,000 after purchasing an additional 653 shares during the period. DV Trading LLC purchased a new stake in shares of Corteva in the first quarter valued at about $243,000. Finally, Parallel Advisors LLC raised its stake in Corteva by 5.1% during the first quarter. Parallel Advisors LLC now owns 38,159 shares of the company’s stock worth $3,194,000 after purchasing an additional 1,845 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.