Corteva, Inc. (NYSE:CTVA) Receives $63.05 Consensus PT from Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $63.00.

A number of research analysts have commented on CTVA shares. Wells Fargo & Company upped their price target on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Barclays raised their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. KeyCorp boosted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Canaccord Genuity Group raised their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th.

Corteva Stock Down 0.2 %

Shares of NYSE CTVA opened at $51.91 on Friday. The firm’s fifty day moving average is $55.02 and its 200 day moving average is $52.37. Corteva has a 52 week low of $43.22 and a 52 week high of $58.81. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a market cap of $36.18 billion, a price-to-earnings ratio of 65.71, a PEG ratio of 1.36 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion for 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 revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 earnings per share. On average, equities research analysts expect that Corteva will post 2.8 earnings per share for the current year.

Corteva Announces Dividend

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

Insider Transactions at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction 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 transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 over the last quarter. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Corteva by 18.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 128,844 shares of the company’s stock worth $6,357,000 after acquiring an additional 19,883 shares during the last quarter. WCG Wealth Advisors LLC increased its position in Corteva by 1.9% in the third quarter. WCG Wealth Advisors LLC now owns 16,443 shares of the company’s stock worth $841,000 after buying an additional 300 shares in the last quarter. Wealthsource Partners LLC raised its stake in shares of Corteva by 18.0% in the third quarter. Wealthsource Partners LLC now owns 12,540 shares of the company’s stock worth $642,000 after buying an additional 1,914 shares during the period. Rafferty Asset Management LLC raised its stake in shares of Corteva by 11.2% in the third quarter. Rafferty Asset Management LLC now owns 52,867 shares of the company’s stock worth $2,705,000 after buying an additional 5,315 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of Corteva during the 3rd quarter valued at about $2,218,000. Institutional investors own 81.54% of the company’s stock.

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.