Corteva (NYSE:CTVA) Hits New 52-Week High – Here’s Why

Corteva, Inc. (NYSE:CTVAGet Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $86.51 and last traded at $86.3380, with a volume of 4132556 shares changing hands. The stock had previously closed at $85.80.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTVA. UBS Group lowered their price objective on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. BNP Paribas Exane boosted their price objective on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Berenberg Bank upped their target price on shares of Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, March 26th. The Goldman Sachs Group lifted their price target on Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Citigroup boosted their price target on Corteva from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.90.

Check Out Our Latest Stock Analysis on CTVA

Corteva Price 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 company has a fifty day moving average price of $80.19 and a two-hundred day moving average price of $77.36. The company has a market cap of $56.99 billion, a P/E ratio of 50.12, a PEG ratio of 2.65 and a beta of 0.56.

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

Corteva Announces Dividend

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

Hedge Funds Weigh In On Corteva

Institutional investors have recently added to or reduced their stakes in the company. Drummond Knight Asset Management Pty Ltd bought a new stake in Corteva in the fourth quarter valued at approximately $25,713,000. Avior Wealth Management LLC boosted its stake in shares of Corteva by 464.7% during the 4th quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock worth $2,205,000 after acquiring an additional 27,075 shares during the period. Arbejdsmarkedets Tillaegspension bought a new position in shares of Corteva during the 4th quarter worth approximately $23,679,000. Squarepoint Ops LLC increased its holdings in shares of Corteva by 423.6% during the 3rd quarter. Squarepoint Ops LLC now owns 1,738,139 shares of the company’s stock worth $117,550,000 after acquiring an additional 1,406,199 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Corteva by 23.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company’s stock valued at $7,378,000 after acquiring an additional 20,957 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

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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.

Further Reading

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