Corteva, Inc. (NYSE:CTVA) Short Interest Update

Corteva, Inc. (NYSE:CTVA) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 10,160,000 shares, a growth of 26.5% from the October 15th total of 8,030,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 2,930,000 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Barclays raised their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Citigroup initiated coverage on Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. Finally, KeyCorp decreased their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Price Performance

CTVA opened at $55.21 on Friday. The company has a 50 day moving average of $58.34 and a two-hundred day moving average of $55.67. Corteva has a 52-week low of $43.89 and a 52-week high of $63.75. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market cap of $37.95 billion, a P/E ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77.

Corteva Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Corteva during the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC lifted its position in shares of 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 purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new stake in Corteva during the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in Corteva during the 2nd quarter worth $45,000. Institutional investors and hedge funds 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.