Brokerages Set Corteva, Inc. (NYSE:CTVA) Price Target at $68.00

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $68.00.

A number of analysts have issued reports on CTVA shares. Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Corteva Stock Performance

NYSE:CTVA opened at $61.86 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $62.34 and a 200 day simple moving average of $59.81. Corteva has a 1-year low of $50.01 and a 1-year high of $66.24. The stock has a market cap of $42.41 billion, a P/E ratio of 47.95, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s dividend payout ratio is currently 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Corteva

Several large investors have recently modified their holdings of the company. Oak Thistle LLC acquired a new stake in Corteva during the 4th quarter worth about $1,514,000. Charles Schwab Investment Management Inc. boosted its position in shares of Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Van ECK Associates Corp grew its stake in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Swedbank AB increased its holdings in Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after purchasing an additional 237,764 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after buying an additional 488,181 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.