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

Corteva (NYSE:CTVA) had its price target decreased by Royal Bank of Canada from $69.00 to $68.00 in a report published on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. KeyCorp dropped their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Stock Up 1.0 %

CTVA opened at $57.69 on Monday. The stock’s 50 day moving average price is $58.25 and its 200 day moving average price is $55.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market cap of $39.65 billion, a P/E ratio of 58.27, a P/E/G ratio of 1.83 and a beta of 0.77. Corteva has a 12 month low of $43.89 and a 12 month high of $63.75.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in Corteva in the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva during the 2nd quarter valued at about $34,000. Redwood Wealth Management Group LLC bought a new position in shares of Corteva in the 2nd quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva in the 2nd quarter worth approximately $45,000. 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.