Corteva, Inc. (NYSE:CTVA) Receives Average Recommendation of “Moderate Buy” from Analysts

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

A number of brokerages recently commented on CTVA. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Barclays increased their price target on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, KeyCorp cut their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTVA. Rovin Capital UT ADV increased its stake in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in 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 during the period. Proffitt & Goodson Inc. increased its position in Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the period. Finally, Herr Investment Group LLC lifted its position in shares of Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $57.13 on Wednesday. The firm’s 50 day moving average price is $58.22 and its two-hundred day moving average price is $55.62. The stock has a market cap of $39.55 billion, a PE ratio of 57.71, a PEG ratio of 1.72 and a beta of 0.77. Corteva has a 52-week low of $43.22 and a 52-week high of $63.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.50.

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 paid a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. Corteva’s dividend payout ratio is 68.69%.

About Corteva

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.