Corteva (NYSE:CTVA – Free Report) had its price objective increased by Barclays from $62.00 to $64.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.
CTVA has been the topic of several other research reports. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada raised their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Bank of America boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Finally, Citigroup dropped their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.59.
Get Our Latest Analysis on CTVA
Corteva Stock Performance
Corteva declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Corteva Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.08%. Corteva’s dividend payout ratio (DPR) is 68.69%.
Institutional Trading of Corteva
A number of institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the third 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. First Financial Corp IN acquired a new stake in Corteva in the 4th quarter worth approximately $35,000. Albion Financial Group UT increased its stake in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Bangor Savings Bank raised its holdings in shares of Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Corteva during the third quarter valued at $56,000. Institutional investors and hedge funds own 81.54% of the company’s stock.
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.
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