Corteva (NYSE:CTVA) Price Target Raised to $71.00

Corteva (NYSE:CTVA) had its target price lifted by UBS Group from $67.00 to $71.00 in a research report sent to investors on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut 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. Finally, KeyCorp decreased their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.47.

Corteva Price Performance

Shares of NYSE:CTVA opened at $58.33 on Thursday. The company has a market capitalization of $40.38 billion, a P/E ratio of 58.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.77. The company’s 50-day moving average is $58.19 and its 200 day moving average is $55.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva has a fifty-two week low of $43.22 and a fifty-two week high of $63.75.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Institutional Investors Weigh In On Corteva

A number of institutional investors and hedge funds have recently bought and sold shares of CTVA. Acadian Asset Management LLC bought a new position in shares of Corteva in the 1st quarter worth $25,000. Capital Advisors Ltd. LLC raised its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of Corteva in the 2nd quarter worth about $43,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Corteva during the 2nd quarter valued at about $45,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

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.