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

Corteva, Inc. (NYSE:CTVA) has earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $63.68.

CTVA has been the subject of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and raised their target price for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Wells Fargo & Company cut their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, KeyCorp decreased their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd.

Corteva Stock Down 3.9 %

Corteva stock opened at $55.19 on Wednesday. The company has a market capitalization of $37.93 billion, a P/E ratio of 57.57, a PEG ratio of 1.85 and a beta of 0.77. Corteva has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The stock has a 50-day simple moving average of $58.34 and a 200-day simple moving average of $55.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

Hedge Funds Weigh In On Corteva

Several large investors have recently added to or reduced their stakes in CTVA. Rovin Capital UT ADV raised its holdings in shares of Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC raised its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the period. Proffitt & Goodson Inc. lifted its holdings in Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares during the period. Finally, Herr Investment Group LLC boosted its stake in Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares during the period. 81.54% of the stock is currently owned by institutional investors.

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.