Royal Bank of Canada Has Lowered Expectations for Corteva (NYSE:CTVA) Stock Price

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

Several other research firms have also commented on CTVA. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Wells Fargo & Company dropped their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. UBS Group lifted their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup assumed coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.68.

Corteva Stock Down 0.5 %

CTVA stock opened at $57.40 on Monday. Corteva has a 52 week low of $43.89 and a 52 week high of $63.75. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $58.29 and a 200-day simple moving average of $55.65. The stock has a market capitalization of $39.45 billion, a P/E ratio of 57.98, a P/E/G ratio of 1.83 and a beta of 0.77.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.18%. Corteva’s dividend payout ratio (DPR) is 68.69%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Corteva by 14.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after acquiring an additional 121,817 shares during the period. Intech Investment Management LLC raised its position in Corteva by 69.5% in the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after purchasing an additional 21,545 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Corteva by 5.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 851,742 shares of the company’s stock worth $51,369,000 after purchasing an additional 44,528 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Corteva by 51.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after buying an additional 41,943 shares during the period. Finally, KBC Group NV grew its stake in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares in the last quarter. Institutional investors and hedge funds 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.