Corteva, Inc. (NYSE:CTVA) Receives $63.68 Consensus Price Target from Analysts

Corteva, Inc. (NYSE:CTVA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $63.68.

Several brokerages have issued reports on CTVA. Oppenheimer reaffirmed an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Finally, Citigroup assumed coverage on Corteva in a research note on Wednesday, October 23rd. They set a "buy" rating and a $68.00 target price on the stock.

Corteva Stock Up 0.9 %

Shares of NYSE CTVA traded up $0.52 during mid-day trading on Wednesday, hitting $57.65. The company had a trading volume of 1,228,646 shares, compared to its average volume of 3,255,915. Corteva has a one year low of $43.89 and a one year high of $63.75. The company has a market capitalization of $39.62 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $58.25 and a two-hundred day simple moving average of $55.64.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Corteva's dividend payout ratio is currently 68.69%.

Institutional Trading of Corteva

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in Corteva by 55.4% during the 1st quarter. Empowered Funds LLC now owns 16,804 shares of the company's stock valued at $969,000 after purchasing an additional 5,989 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Corteva by 10.3% in the 1st quarter. Bleakley Financial Group LLC now owns 13,239 shares of the company's stock worth $764,000 after acquiring an additional 1,237 shares during the last quarter. Dearborn Partners LLC bought a new position in Corteva in the 1st quarter valued at about $360,000. State Board of Administration of Florida Retirement System boosted its stake in Corteva by 5.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 851,742 shares of the company's stock valued at $51,369,000 after purchasing an additional 44,528 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Corteva by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company's stock worth $54,678,000 after purchasing an additional 121,817 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.