Corteva (NYSE:CTVA) Sees Large Volume Increase

Shares of Corteva, Inc. (NYSE:CTVAGet Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,370,336 shares traded hands during mid-day trading, a decline of 61% from the previous session’s volume of 3,519,852 shares.The stock last traded at $50.80 and had previously closed at $51.71.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Canaccord Genuity Group lifted their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Wells Fargo & Company lifted their price target on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Mizuho lifted their price target on shares of Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

Check Out Our Latest Research Report on Corteva

Corteva Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market capitalization of $36.35 billion, a PE ratio of 65.46, a P/E/G ratio of 1.40 and a beta of 0.78. The company’s fifty day simple moving average is $55.68 and its 200-day simple moving average is $52.12.

Corteva (NYSE:CTVAGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock valued at $4,795,016 over the last 90 days. 0.20% of the stock is owned by company insiders.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new stake in Corteva during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva in the 1st quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at $27,000. Finally, Rise Advisors LLC increased its holdings in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Company Profile

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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.

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