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

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $67.06.

Several equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp cut their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Corteva Stock Down 1.3 %

CTVA opened at $65.26 on Monday. Corteva has a one year low of $45.46 and a one year high of $66.24. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 65.92, a PEG ratio of 1.70 and a beta of 0.77. The business’s fifty day moving average is $60.14 and its two-hundred day moving average is $57.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.04%. Corteva’s payout ratio is 68.69%.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Corteva

A number of institutional investors and hedge funds have recently bought and sold shares of CTVA. Davidson Investment Advisors boosted its stake in shares of Corteva by 1.2% in the fourth quarter. Davidson Investment Advisors now owns 334,220 shares of the company’s stock valued at $19,037,000 after purchasing an additional 3,873 shares during the period. Kestra Investment Management LLC purchased a new position in Corteva in the 4th quarter valued at about $50,000. Atria Wealth Solutions Inc. boosted its position in Corteva by 9.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 37,174 shares of the company’s stock valued at $2,117,000 after buying an additional 3,060 shares during the last quarter. Empower Advisory Group LLC increased its position in shares of Corteva by 9.7% during the fourth quarter. Empower Advisory Group LLC now owns 5,481 shares of the company’s stock worth $312,000 after acquiring an additional 483 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Corteva by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 110,499 shares of the company’s stock worth $6,294,000 after acquiring an additional 3,520 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.