Brokerages Set Corteva, Inc. (NYSE:CTVA) Target Price at $67.73

Shares of Corteva, Inc. (NYSE:CTVA) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $67.73.

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. 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. Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Bank of America raised their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th.

Corteva Trading Up 0.6 %

Shares of CTVA opened at $62.96 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva has a 52-week low of $50.01 and a 52-week high of $66.24. The firm has a market cap of $43.16 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 1.68 and a beta of 0.78. The business’s fifty day moving average is $60.97 and its 200-day moving average is $59.09.

Corteva (NYSE:CTVA) last issued its earnings results 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%. Equities analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.08%. Corteva’s dividend payout ratio is currently 52.71%.

Corteva declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CTVA. Heck Capital Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $55,000. Polar Asset Management Partners Inc. bought a new stake in Corteva during the 4th quarter valued at $4,073,000. Value Partners Investments Inc. raised its holdings in Corteva by 1.8% during the fourth quarter. Value Partners Investments Inc. now owns 40,342 shares of the company’s stock worth $2,296,000 after buying an additional 722 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Corteva by 13.0% in the fourth quarter. Mackenzie Financial Corp now owns 556,650 shares of the company’s stock valued at $31,707,000 after buying an additional 64,205 shares in the last quarter. Finally, Forum Financial Management LP grew its holdings in shares of Corteva by 23.7% during the fourth quarter. Forum Financial Management LP now owns 12,304 shares of the company’s stock valued at $701,000 after buying an additional 2,356 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Company Profile

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.