Corteva Target of Unusually Large Options Trading (NYSE:CTVA)

Corteva, Inc. (NYSE:CTVA) saw some unusual options trading on Friday. Investors bought 3,134 put options on the stock. This is an increase of approximately 393% compared to the typical daily volume of 636 put options.

Corteva Stock Down 3.8 %

NYSE:CTVA opened at $55.21 on Friday. 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 market capitalization of $37.95 billion, a P/E ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77. The company’s 50-day simple moving average is $58.34 and its 200-day simple moving average is $55.67. Corteva has a fifty-two week low of $43.89 and a fifty-two week high of $63.75.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 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 report on Wednesday, August 7th. Finally, Citigroup started coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.68.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in Corteva by 55.4% in the first quarter. Empowered Funds LLC now owns 16,804 shares of the company’s stock worth $969,000 after acquiring an additional 5,989 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Corteva by 10.3% during the 1st quarter. Bleakley Financial Group LLC now owns 13,239 shares of the company’s stock valued at $764,000 after purchasing an additional 1,237 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Corteva by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 7,896 shares of the company’s stock worth $455,000 after buying an additional 309 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Corteva by 6.6% during the first quarter. Orion Portfolio Solutions LLC now owns 31,258 shares of the company’s stock worth $1,803,000 after buying an additional 1,924 shares during the period. Finally, Great Lakes Retirement Inc. grew its holdings in shares of Corteva by 7.2% during the first quarter. Great Lakes Retirement Inc. now owns 5,992 shares of the company’s stock valued at $346,000 after buying an additional 402 shares during the last quarter. Hedge funds and other 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.