Brokerages Set Corteva, Inc. (NYSE:CTVA) Price Target at $63.68

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $63.68.

A number of equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Royal Bank of Canada dropped their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. UBS Group boosted their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. KeyCorp decreased their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th.

Corteva Stock Performance

Shares of CTVA stock opened at $55.19 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva has a 12-month low of $43.89 and a 12-month high of $63.75. The business’s 50 day moving average is $58.34 and its two-hundred day moving average is $55.67. The company has a market capitalization of $37.93 billion, a P/E ratio of 57.57, a P/E/G ratio of 1.85 and a beta of 0.77.

Corteva Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio (DPR) is 68.69%.

Institutional Trading of Corteva

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in shares of Corteva by 55.4% during the first quarter. Empowered Funds LLC now owns 16,804 shares of the company’s stock worth $969,000 after buying an additional 5,989 shares during the period. Bleakley Financial Group LLC boosted its holdings in Corteva by 10.3% in the first quarter. Bleakley Financial Group LLC now owns 13,239 shares of the company’s stock valued at $764,000 after purchasing an additional 1,237 shares during the period. Dearborn Partners LLC acquired a new stake in Corteva in the 1st quarter valued at about $360,000. State Board of Administration of Florida Retirement System increased its position in shares of Corteva by 5.5% in 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. raised its stake in Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after buying an additional 121,817 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

About Corteva

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.