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

Corteva, Inc. (NYSE:CTVA) has been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $65.41.

CTVA has been the subject of a number of analyst reports. Oppenheimer restated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. KeyCorp increased their price target on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Citigroup decreased their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently made changes to their positions in CTVA. KBC Group NV lifted its stake 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 purchasing an additional 815,135 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Corteva by 1.5% in the third 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 last quarter. Thrivent Financial for Lutherans increased its position in shares of Corteva by 16.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after buying an additional 141,898 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Corteva by 468.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after buying an additional 37,239 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Corteva by 0.4% in the 3rd 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 last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $56.96 on Thursday. 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 stock’s fifty day moving average price is $59.20 and its 200-day moving average price is $56.73. The firm has a market cap of $39.15 billion, a P/E ratio of 57.54, a P/E/G ratio of 1.94 and a beta of 0.77. Corteva has a 12 month low of $44.01 and a 12 month high of $64.20.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva declared that its board has approved a stock repurchase 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 typically an indication that the company’s leadership believes its stock is undervalued.

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.