Corteva (NYSE:CTVA) Given New $74.00 Price Target at Citigroup

Corteva (NYSE:CTVA) had its price target increased by Citigroup from $69.00 to $74.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on CTVA. KeyCorp decreased their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Royal Bank of Canada increased their price objective on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Barclays increased their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.24.

Corteva Stock Up 1.2 %

Shares of CTVA opened at $65.06 on Wednesday. Corteva has a 52 week low of $45.46 and a 52 week high of $65.44. The stock has a market capitalization of $44.72 billion, a price-to-earnings ratio of 65.72, a PEG ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a fifty day moving average of $59.83 and a 200-day moving average of $57.69.

Corteva declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.05%. Corteva’s payout ratio is 68.69%.

Hedge Funds Weigh In On Corteva

Several large investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its position in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares in the last quarter. Roble Belko & Company Inc lifted its position in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after buying an additional 166 shares in the last quarter. Rovin Capital UT ADV lifted its position in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after buying an additional 168 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares in the last quarter. Institutional investors 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.