Corteva (NYSE:CTVA) Price Target Cut to $68.00 by Analysts at Royal Bank of Canada

Corteva (NYSE:CTVA) had its target price cut by Royal Bank of Canada from $69.00 to $68.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday. Wells Fargo & Company reduced their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, UBS Group boosted their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.68.

Corteva Trading Up 0.3 %

Shares of CTVA stock opened at $58.51 on Monday. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 59.10, a PEG ratio of 1.72 and a beta of 0.77. Corteva has a twelve month low of $43.22 and a twelve month high of $63.75. The company’s 50-day moving average price is $58.19 and its 200-day moving average price is $55.60. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Hedge Funds Weigh In On Corteva

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rovin Capital UT ADV boosted its holdings in Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. Proffitt & Goodson Inc. boosted its holdings in shares of Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after acquiring an additional 174 shares during the period. Pinnacle Bancorp Inc. boosted 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 valued at $57,000 after acquiring an additional 199 shares during the period. Finally, Herr Investment Group LLC boosted its holdings 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 during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

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.