This morning we watched Corteva drop -2.5% to a price of $54.27 per share. The Large-Cap Farming company is now trading -14.82% below its average target price of $63.71. Analysts have set target prices ranging from $54.0 to $69.0 per share for Corteva, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.4%, and a short ratio of 2.63. At 0.08%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that a significant number of institutional investors are invested in the stock, with 84.0% of Corteva's shares being owned by this investor type.
Institutions Invested in Corteva
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 11% | 79,847,622 | $4,333,330,482 |
| 2024-03-31 | Blackrock Inc. | 8% | 53,585,643 | $2,908,092,870 |
| 2024-03-31 | State Street Corporation | 5% | 32,446,602 | $1,760,877,105 |
| 2024-03-31 | Capital International Investors | 4% | 26,437,457 | $1,434,760,803 |
| 2024-03-31 | Aristotle Capital Management, LLC | 4% | 24,744,282 | $1,342,872,195 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 15,902,519 | $863,029,713 |
| 2024-03-31 | Independent Franchise Partners, LLP | 2% | 14,423,081 | $782,740,612 |
| 2024-03-31 | Nuveen Asset Management, LLC | 2% | 13,460,040 | $730,476,376 |
| 2024-03-31 | Massachusetts Financial Services Co. | 2% | 13,019,192 | $706,551,555 |
| 2024-03-31 | Morgan Stanley | 2% | 12,827,664 | $696,157,331 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Corteva.
