Corteva (NYSE:CTVA) Sets New 12-Month High – What’s Next?

Corteva, Inc. (NYSE:CTVA) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $63.75 and last traded at $63.75, with a volume of 2895 shares trading hands. The stock had previously closed at $61.75.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp decreased their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.84.

Corteva Price Performance

The company has a market cap of $42.73 billion, a P/E ratio of 47.50, a PEG ratio of 1.75 and a beta of 0.77. The company has a fifty day moving average price of $58.03 and a two-hundred day moving average price of $55.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is 52.31%.

Hedge Funds Weigh In On Corteva

A number of institutional investors have recently bought and sold shares of CTVA. Rovin Capital UT ADV grew its position in shares of Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% during the third 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. Proffitt & Goodson Inc. grew its position in Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares in the last quarter. Finally, Herr Investment Group LLC grew its position in Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 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.