Corteva (NYSE:CTVA) Sets New 52-Week High – Time to Buy?

Corteva, Inc. (NYSE:CTVA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.57 and last traded at $88.5550, with a volume of 2140586 shares changing hands. The stock had previously closed at $86.94.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research reports. CICC Research boosted their price objective on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Citigroup raised their target price on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley raised their price target on Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. The Goldman Sachs Group lifted their price objective on Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Barclays increased their target price on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.90.

Corteva Price Performance

The firm has a 50 day moving average of $81.13 and a 200-day moving average of $78.69. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The company has a market cap of $59.23 billion, a P/E ratio of 52.09, a P/E/G ratio of 2.64 and a beta of 0.56.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts predict that Corteva, Inc. will post 3.75 EPS for the current year.

Corteva Announces Dividend

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

Institutional Investors Weigh In On Corteva

Several hedge funds and other institutional investors have recently made changes to their positions in CTVA. Brighton Jones LLC raised its position in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the period. Woodline Partners LP grew its stake in shares of Corteva by 40.3% during the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after buying an additional 16,644 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Corteva by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after buying an additional 980 shares during the period. Cresset Asset Management LLC lifted its stake 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 worth $526,000 after acquiring an additional 181 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Corteva during the 2nd quarter valued at $1,464,000. Hedge funds and other institutional investors 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.