Corteva, Inc. (NYSE:CTVA) Stock Has Average Price Target of $60.59

Shares of Corteva, Inc. (NYSE:CTVA) have received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $60.59.

CTVA has been the subject of several research reports. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. KeyCorp raised Corteva from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a research report on Wednesday, October 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $18.00 target price on shares of Corteva in a report on Friday, October 2nd. Argus reaffirmed a “buy” rating and set a $91.00 target price on shares of Corteva in a report on Friday, September 18th. Finally, Zacks Research lowered Corteva from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTVA. EFG International AG acquired a new stake in shares of Corteva during the second quarter valued at approximately $25,000. Compass Financial Management LLC acquired a new position in Corteva in the 2nd quarter worth approximately $25,000. Elevation Wealth Partners LLC boosted its stake in Corteva by 334.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock worth $29,000 after purchasing an additional 261 shares during the period. Clearstead Trust LLC purchased a new position in Corteva during the 2nd quarter worth approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Corteva during the 2nd quarter worth approximately $33,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.5%

Shares of NYSE:CTVA opened at $12.17 on Friday. The firm has a market cap of $8.12 billion, a P/E ratio of 3.20, a P/E/G ratio of 1.69 and a beta of 0.58. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. Corteva has a twelve month low of $11.24 and a twelve month high of $90.97. The company has a 50 day moving average of $41.93 and a 200-day moving average of $70.50.

Corteva Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, December 1st. This is a drop from Corteva’s previous quarterly dividend of $0.18. Corteva’s dividend payout ratio is presently 47.68%.

Corteva Company Profile

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.