Corteva (NYSE:CTVA) Given New $68.00 Price Target at Royal Bank of Canada

Corteva (NYSE:CTVA) had its price objective lowered by Royal Bank of Canada from $69.00 to $68.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

CTVA has been the topic of a number of other reports. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. KeyCorp dropped their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. UBS Group boosted their price target on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company cut their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Stock Down 0.5 %

NYSE:CTVA opened at $57.40 on Monday. 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 has a 1-year low of $43.89 and a 1-year high of $63.75. The company has a 50-day moving average of $58.29 and a 200 day moving average of $55.65. The firm has a market cap of $39.45 billion, a PE ratio of 57.98, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTVA. Acadian Asset Management LLC purchased a new position in shares of Corteva during the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC increased its holdings in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva in the second quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Corteva during the 2nd quarter worth about $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at about $45,000. 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.