Investors Purchase High Volume of Corteva Put Options (NYSE:CTVA)

Corteva, Inc. (NYSE:CTVA) was the recipient of some unusual options trading on Friday. Traders acquired 3,134 put options on the stock. This is an increase of 393% compared to the average volume of 636 put options.

Corteva Stock Performance

Shares of CTVA traded down $1.44 during trading hours on Friday, reaching $55.97. 1,834,910 shares of the company traded hands, compared to its average volume of 3,251,393. Corteva has a 1-year low of $43.89 and a 1-year high of $63.75. The stock has a market cap of $38.47 billion, a P/E ratio of 57.57, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The stock’s fifty day moving average is $58.34 and its 200 day moving average is $55.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

Institutional Trading of Corteva

A number of large investors have recently bought and sold shares of CTVA. Acadian Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC grew its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva during the second quarter worth approximately $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the second quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC bought a new stake in Corteva during the 2nd quarter worth approximately $45,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CTVA. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Citigroup started coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target for the company. Royal Bank of Canada cut their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.68.

About Corteva

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.