Investors Purchase Large Volume of Put Options on Corteva (NYSE:CTVA)

Corteva, Inc. (NYSE:CTVA) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 3,134 put options on the company. This represents an increase of 393% compared to the typical daily volume of 636 put options.

Corteva Stock Down 3.9 %

CTVA stock opened at $55.19 on Friday. Corteva has a 52 week low of $43.89 and a 52 week high of $63.75. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $37.93 billion, a P/E ratio of 55.74, a P/E/G ratio of 1.85 and a beta of 0.77. The company’s 50-day moving average price is $58.34 and its 200 day moving average price is $55.67.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio is presently 68.69%.

Institutional Trading of Corteva

Institutional investors have recently bought and sold shares of the company. 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 in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the last quarter. 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 in the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after acquiring an additional 199 shares during the last quarter. 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 acquiring an additional 200 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. UBS Group raised their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company cut their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.68.

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.