Corteva (NYSE:CTVA) Given New $10.00 Price Target at UBS Group

Corteva (NYSE:CTVA) had its price target cut by UBS Group from $15.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on CTVA. Citigroup increased their target price on shares of Corteva from $86.00 to $91.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. New Street Research set a $17.00 price target on shares of Corteva in a research report on Monday, October 5th. Oppenheimer cut Corteva from an “outperform” rating to a “market perform” rating in a research note on Friday. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $19.00 price target for the company in a research note on Tuesday, October 6th. Finally, Deutsche Bank reissued a “buy” rating and set a $101.00 price target on shares of Corteva in a research report on Monday, August 3rd. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Corteva Stock Performance

Shares of CTVA stock traded up $0.23 on Friday, hitting $9.41. The company’s stock had a trading volume of 28,888,260 shares, compared to its average volume of 21,957,566. Corteva has a fifty-two week low of $9.01 and a fifty-two week high of $90.97. 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 stock’s 50 day moving average is $37.22 and its 200-day moving average is $69.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.56.

Corteva Cuts Dividend

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

Hedge Funds Weigh In On Corteva

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Corteva during the second quarter valued at approximately $4,560,180,000. Wellington Management Group LLP lifted its stake in Corteva by 941.7% during the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock worth $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Jupiter Topco LLC bought a new stake in Corteva during the second quarter worth $544,246,000. Bank of America Corp DE acquired a new stake in shares of Corteva in the 2nd quarter valued at $484,927,000. Finally, Legal & General Group Plc acquired a new stake in shares of Corteva in the 2nd quarter valued at $482,836,000. 81.54% of the stock is owned by institutional investors.

Corteva News Summary

Investors following CTVA have been watching these news items:

• 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.