Brokerages Set Corteva (NYSE:CTVA) Price Target at $31.50
Corteva (NYSE:CTVA) has been given a consensus rating of “Hold” by the nineteen analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $31.50.
CTVA has been the topic of several analyst reports. SunTrust Banks dropped their price objective on Corteva from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. lowered Corteva from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $27.00 in a research report on Friday, November 1st. Redburn Partners began coverage on Corteva in a research report on Tuesday, November 12th. They issued a “buy” rating for the company. Barclays set a $32.00 target price on Corteva and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $29.00 to $38.00 in a research report on Friday, August 9th.
CTVA stock traded down $0.84 during midday trading on Monday, hitting $25.18. 7,236,197 shares of the company’s stock were exchanged, compared to its average volume of 5,649,113. Corteva has a 12-month low of $24.35 and a 12-month high of $32.78. The business has a 50 day moving average of $26.08.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 29th will be given a $0.13 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.52 annualized dividend and a dividend yield of 2.07%.
In related news, SVP Cornel B. Fuerer acquired 2,000 shares of Corteva stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $26.13 per share, for a total transaction of $52,260.00. Also, CEO James C. Jr. Collins acquired 5,000 shares of Corteva stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $25.50 per share, with a total value of $127,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,975 shares of company stock valued at $414,277 in the last 90 days.
A number of large investors have recently added to or reduced their stakes in the stock. First Interstate Bank boosted its position in Corteva by 31.7% during the 3rd quarter. First Interstate Bank now owns 1,532 shares of the company’s stock valued at $43,000 after purchasing an additional 369 shares during the period. Whittier Trust Co. raised its stake in Corteva by 0.8% during the 3rd quarter. Whittier Trust Co. now owns 58,775 shares of the company’s stock valued at $1,646,000 after acquiring an additional 459 shares in the last quarter. Gamble Jones Investment Counsel raised its stake in Corteva by 6.8% during the 3rd quarter. Gamble Jones Investment Counsel now owns 8,000 shares of the company’s stock valued at $224,000 after acquiring an additional 512 shares in the last quarter. Advantage Investment Management LLC raised its stake in Corteva by 101.0% during the 3rd quarter. Advantage Investment Management LLC now owns 1,021 shares of the company’s stock valued at $29,000 after acquiring an additional 513 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Corteva by 3.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,724 shares of the company’s stock valued at $412,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
Corteva Company Profile
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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