Corteva (NYSE:CTVA) Given New $16.00 Price Target at JPMorgan Chase & Co.

Corteva (NYSE:CTVA) had its target price lowered by JPMorgan Chase & Co. from $19.00 to $16.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts have also commented on CTVA. UBS Group cut their target price on Corteva from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank Of Canada lowered their target price on Corteva from $17.00 to $11.00 and set an “outperform” rating for the company in a report on Friday. Deutsche Bank reiterated a “buy” rating and issued a $101.00 target price on shares of Corteva in a report on Monday, August 3rd. BMO Capital Markets set a $15.00 price target on Corteva in a research note on Friday, October 2nd. Finally, Argus restated a “buy” rating and set a $91.00 price target on shares of Corteva in a report on Friday, September 18th. Fifteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.60.

Corteva Trading Up 2.4%

Corteva stock traded up $0.23 during trading hours on Friday, reaching $9.41. 28,888,260 shares of the company’s stock were exchanged, compared to its average volume of 21,957,566. The firm’s 50 day simple moving average is $37.22 and its 200 day simple moving average is $69.57. Corteva has a twelve month low of $9.01 and a twelve month high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The firm 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.

Corteva Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.05 per share. This is a decrease from Corteva’s previous quarterly dividend of $0.18. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 47.68%.

Hedge Funds Weigh In On Corteva

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Corteva in the 3rd quarter valued at about $49,716,000. Empowered Funds LLC raised its stake in Corteva by 19.2% during the 3rd quarter. Empowered Funds LLC now owns 166,687 shares of the company’s stock worth $12,943,000 after buying an additional 26,833 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Corteva by 25.6% in the third quarter. Steward Partners Investment Advisory LLC now owns 35,474 shares of the company’s stock worth $2,755,000 after acquiring an additional 7,229 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Corteva by 7.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 626,690 shares of the company’s stock worth $48,662,000 after acquiring an additional 44,445 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC acquired a new stake in Corteva in the third quarter valued at approximately $204,000. Institutional investors own 81.54% of the company’s stock.

Corteva News Roundup

These are some of the CTVA news items that stood out recently:

• 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: The earnings miss and lowered full-year outlook are the key near-term headwinds, with Brazil weakness and competitive pricing hurting results. Reuters report on Brazil weakness and forecast cut

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.