Several institutional investors have changed their shares in Corteva. Northwest Investment Counselors bought new shares worth $56,000. Arlington Partners increased its shares by 24.8%, totaling 75,698 shares valued at $4.45 million. Allspring Global Investments raised its holdings by 19.5% to 48,470 shares worth $2.85 million. KFA Private Wealth Group and Integris Wealth Management also acquired new positions worth about $255,000 and $216,000, respectively. Currently, 81.54% of Corteva is owned by institutional investors and hedge funds.
Price Target Updates
Analysts have recently updated their ratings for Corteva (CTVA). Argus downgraded it from “buy” to “hold.” Bank of America raised its rating from “neutral” to “buy,” increasing the target price from $59 to $67. KeyCorp lowered its target from $66 to $62 while maintaining an “overweight” rating. Wells Fargo reduced its target from $67 to $65, also keeping an “overweight” rating. JPMorgan cut its target from $57 to $55, giving a “neutral” rating. Overall, Corteva has one sell rating, six holds, and fourteen buy ratings, with an average target price of $62.21 and a “Moderate Buy” rating.
Corteva Stock Performance
Corteva stock opened at $59.25, with a market cap of $41.3 billion and a P/E ratio of 75.00. The stock’s 50-day moving average is $56.52, and the 200-day is $55.07. The company has a low of $43.22 and a high of $59.68 over the past year. Recently, Corteva reported earnings of $1.83 per share, exceeding expectations of $1.74, with revenue of $6.11 billion.
Dividend Increase
Corteva recently declared a quarterly dividend of $0.17 paid on September 17, up from $0.16. This gives an annualized dividend of $0.68 and a yield of 1.15%. The payout ratio stands at 86.08%.
About Corteva
Corteva, Inc. focuses on agriculture, operating through Seed and Crop Protection segments. The Seed segment offers advanced seed technologies for better yields and resistance to various challenges.
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