Corteva, Inc. (NYSE:CTVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $68.43.

CTVA has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price on the stock. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp increased their price target on Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 14th.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the 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. This represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the 4th quarter worth $26,000. Pinney & Scofield Inc. acquired a new position in Corteva during the fourth quarter worth about $27,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. Finally, Valley National Advisers Inc. grew its holdings in Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Up 0.2 %

Shares of CTVA stock opened at $62.51 on Wednesday. The stock has a market capitalization of $42.70 billion, a P/E ratio of 48.46, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva has a 12-month low of $50.01 and a 12-month high of $66.24. The firm’s 50 day moving average is $60.59 and its 200 day moving average is $60.61.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is 52.71%.

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.