Corteva, Inc. (NYSE:CTVA) Given Average Rating of “Moderate Buy” by Brokerages

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $63.68.

Several equities analysts have weighed in on the company. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and lifted their target price for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. KeyCorp lowered their price target 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. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th.

Corteva Price Performance

CTVA stock opened at $57.13 on Wednesday. The firm has a 50-day moving average of $58.22 and a two-hundred day moving average of $55.62. The firm has a market capitalization of $39.55 billion, a PE ratio of 57.71, a P/E/G ratio of 1.72 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08. Corteva has a one year low of $43.22 and a one year high of $63.75.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. 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 1.19%. Corteva’s payout ratio is presently 68.69%.

Institutional Investors Weigh In On Corteva

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Corteva by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after purchasing an additional 121,817 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Corteva by 69.5% during the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after buying an additional 21,545 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Corteva by 5.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 851,742 shares of the company’s stock valued at $51,369,000 after buying an additional 44,528 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Corteva by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after acquiring an additional 845 shares during the period. 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.