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

Corteva, Inc. (NYSE:CTVA) has been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $63.68.

A number of research firms have issued reports on CTVA. UBS Group boosted their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd.

Institutional Trading of Corteva

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after acquiring an additional 355,206 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Corteva by 0.8% during the third quarter. M&T Bank Corp now owns 2,077,000 shares of the company’s stock valued at $122,107,000 after purchasing an additional 16,087 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Corteva by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 415,007 shares of the company’s stock worth $24,398,000 after purchasing an additional 5,819 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Corteva by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 91,727 shares of the company’s stock valued at $5,393,000 after buying an additional 2,921 shares during the period. Finally, National Bank of Canada FI increased its position in Corteva by 77.9% in the 3rd quarter. National Bank of Canada FI now owns 359,994 shares of the company’s stock valued at $21,164,000 after buying an additional 157,614 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 3.8 %

Shares of CTVA stock opened at $55.21 on Wednesday. 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 has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The company has a market cap of $37.95 billion, a PE ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77. The stock’s fifty day moving average price is $58.34 and its two-hundred day moving average price is $55.69.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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.