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

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $65.06.

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Barclays boosted their target price on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. KeyCorp lifted their price target on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th.

Institutional Trading of Corteva

Large investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Corteva by 51.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after buying an additional 41,943 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the period. Thrivent Financial for Lutherans lifted its position in Corteva by 16.1% during the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after acquiring an additional 141,898 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Corteva by 468.8% during the third quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after acquiring an additional 37,239 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA opened at $59.49 on Friday. 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 stock’s 50 day moving average price is $59.56 and its two-hundred day moving average price is $56.13. The firm has a market capitalization of $40.89 billion, a P/E ratio of 60.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. Corteva has a 12-month low of $44.01 and a 12-month high of $64.20.

Corteva declared that its board has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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 of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s dividend payout ratio is 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.