Analysts Set Corteva, Inc. (NYSE:CTVA) PT at $65.41

Corteva, Inc. (NYSE:CTVA) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $65.41.

Several brokerages have issued reports on CTVA. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada lifted their target price on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. UBS Group increased their price target on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, KeyCorp increased their target price on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank raised its stake in shares of Corteva by 83.7% during the 4th quarter. First Hawaiian Bank now owns 15,737 shares of the company’s stock valued at $896,000 after buying an additional 7,170 shares during the last quarter. One Wealth Capital Management LLC acquired a new position in Corteva in the fourth quarter valued at approximately $266,000. Diversified Trust Co boosted its position in Corteva by 1.0% in the 4th quarter. Diversified Trust Co now owns 21,449 shares of the company’s stock worth $1,222,000 after purchasing an additional 210 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Corteva by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 60,518 shares of the company’s stock valued at $3,442,000 after purchasing an additional 3,132 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Corteva by 18.8% in the 4th quarter. GAMMA Investing LLC now owns 13,099 shares of the company’s stock valued at $746,000 after purchasing an additional 2,070 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $57.10 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company has a 50 day moving average price of $59.03 and a 200-day moving average price of $56.76. Corteva has a fifty-two week low of $44.01 and a fifty-two week high of $64.20. The stock has a market capitalization of $39.24 billion, a PE ratio of 57.68, a PEG ratio of 1.94 and a beta of 0.77.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.