Analysts Set Corteva, Inc. (NYSE:CTVA) Price Target at $65.59

Corteva, Inc. (NYSE:CTVA) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $66.24.

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp lowered their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th.

Corteva Price Performance

Shares of NYSE CTVA opened at $65.26 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva has a fifty-two week low of $45.46 and a fifty-two week high of $66.24. The business has a 50 day moving average price of $60.06 and a two-hundred day moving average price of $57.80. The firm has a market cap of $44.85 billion, a PE ratio of 65.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Corteva announced that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Corteva

Several institutional investors have recently modified their holdings of CTVA. KBC Group NV increased its holdings in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares in the last quarter. Oak Thistle LLC acquired a new position in Corteva in the 4th quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. raised its stake in Corteva by 1.5% during 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 purchasing an additional 66,052 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after purchasing an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its stake in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after acquiring an additional 33,886 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.