Fintel reports that on April 12, 2024, JP Morgan downgraded their outlook for Corteva (NYSE:CTVA) from Overweight to Neutral.

Analyst Price Forecast Suggests 10.29% Upside

As of March 31, 2024, the average one-year price target for Corteva is 62.27. The forecasts range from a low of 53.53 to a high of $70.35. The average price target represents an increase of 10.29% from its latest reported closing price of 56.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Corteva is 19,692MM, an increase of 14.32%. The projected annual non-GAAP EPS is 3.70.

Corteva Declares $0.16 Dividend

On January 26, 2024 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of March 1, 2024 received the payment on March 15, 2024. Previously, the company paid $0.16 per share.

At the current share price of $56.46 / share, the stock's dividend yield is 1.13%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.38%, the lowest has been 0.90%, and the highest has been 2.51%. The standard deviation of yields is 0.40 (n=228).

The current dividend yield is 0.62 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.61. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2018 funds or institutions reporting positions in Corteva. This is an increase of 10 owner(s) or 0.50% in the last quarter. Average portfolio weight of all funds dedicated to CTVA is 0.27%, a decrease of 12.34%. Total shares owned by institutions decreased in the last three months by 2.92% to 694,333K shares. The put/call ratio of CTVA is 0.40, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital International Investors holds 25,759K shares representing 3.69% ownership of the company. In it's prior filing, the firm reported owning 17,498K shares, representing an increase of 32.07%. The firm increased its portfolio allocation in CTVA by 21.82% over the last quarter.

Aristotle Capital Management holds 25,343K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 26,027K shares, representing a decrease of 2.70%. The firm decreased its portfolio allocation in CTVA by 16.92% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 22,170K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 22,101K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in CTVA by 16.03% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 17,214K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 17,055K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in CTVA by 16.50% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 15,798K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 16,067K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in CTVA by 17.69% over the last quarter.

Corteva Background Information
(This description is provided by the company.)

Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont.