Corteva (NYSE:CTVA) Given New $10.30 Price Target at Citigroup

Corteva (NYSE:CTVA) had its price objective lowered by Citigroup from $13.65 to $10.30 in a report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also commented on CTVA. New Street Research set a $17.00 target price on shares of Corteva in a report on Monday, October 5th. KeyCorp raised shares of Corteva from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Wednesday, October 7th. Argus restated a “buy” rating and set a $91.00 price target on shares of Corteva in a research report on Friday, September 18th. Mizuho set a $16.00 price objective on Corteva in a research note on Thursday. Finally, Royal Bank Of Canada reduced their price objective on Corteva from $17.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday. Fifteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Corteva Price Performance

Shares of CTVA stock traded up $0.23 during trading hours on Friday, hitting $9.41. 28,888,260 shares of the company’s stock were exchanged, compared to its average volume of 21,957,566. The company has a market capitalization of $6.28 billion, a PE ratio of 4.96, a PEG ratio of 1.72 and a beta of 0.58. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 0.14. Corteva has a 12-month low of $9.01 and a 12-month high of $90.97. The business’s 50 day simple moving average is $37.22 and its 200-day simple moving average is $69.57.

Corteva Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. This is a drop from Corteva’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, December 1st. Corteva’s payout ratio is currently 47.68%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Corteva during the 2nd quarter valued at $4,560,180,000. Wellington Management Group LLP boosted its position in Corteva by 941.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock valued at $644,720,000 after buying an additional 6,881,875 shares during the period. Royal Bank of Canada boosted its position in Corteva by 202.1% during the 1st quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after buying an additional 4,989,371 shares during the period. Jupiter Topco LLC bought a new stake in Corteva in the 2nd quarter worth $544,246,000. Finally, Bank of America Corp DE bought a new stake in Corteva in the 2nd quarter worth $484,927,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Latest Corteva News

Here’s some of the latest news about CTVA:

• Positive Sentiment: Corteva pointed to new products and cost-cutting efforts as supports for a potential recovery, though these measures have not offset near-term weakness. Corteva Q3 Earnings Call Highlights Brazil Woes and Outlook Cut
• Neutral Sentiment: Several analysts lowered price targets following the outlook reset. Citigroup and UBS kept neutral ratings, while JPMorgan maintained overweight and RBC kept outperform ratings, signaling some analysts still see potential upside from recent levels. Read More. · Read More. · Read More. · Read More.
• Negative Sentiment: Law firms announced investigations into potential securities-law violations related to company disclosures. These are allegations under investigation, not findings of wrongdoing, but may add uncertainty for investors. Law firm investigation announcement

About Corteva

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.