Corteva, Inc. (NYSE:CTVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $65.59.

A number of analysts have recently issued reports on CTVA shares. KeyCorp dropped their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price target on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Oppenheimer reissued 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.

Corteva Trading Down 0.4 %

Corteva stock opened at $63.96 on Monday. Corteva has a one year low of $45.01 and a one year high of $64.32. The business’s fifty day moving average is $59.56 and its 200 day moving average is $57.48. The stock has a market capitalization of $43.96 billion, a PE ratio of 64.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Corteva’s payout ratio is 68.69%.

Institutional Trading of Corteva

Several institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after purchasing an additional 355,206 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. Harris Associates L P boosted its stake in Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares during the last quarter. Finally, FMR LLC grew its holdings in Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after buying an additional 203,126 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.