Corteva, Inc. (NYSE:CTVA) Receives $63.00 Average Price Target from Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $63.00.

CTVA has been the topic of several recent research reports. Oppenheimer upped their price objective on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. BMO Capital Markets increased their price target on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Canaccord Genuity Group increased their target price 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. Finally, Mizuho cut their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th.

Corteva Stock Up 2.5 %

CTVA stock opened at $55.54 on Thursday. The company has a market capitalization of $38.71 billion, a P/E ratio of 70.30, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77. Corteva has a 12 month low of $43.22 and a 12 month high of $58.76. The firm’s fifty day simple moving average is $54.00 and its 200-day simple moving average is $53.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, equities research analysts forecast that Corteva will post 2.79 earnings per share for the current year.

Corteva Dividend Announcement

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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Insider Transactions at Corteva

In related news, 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 transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 in the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CTVA. &PARTNERS raised its position in Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares during the period. Herr Investment Group LLC lifted its position in Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after buying an additional 200 shares during the last quarter. Baxter Bros Inc. increased its holdings in Corteva by 1.2% in the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after purchasing an additional 215 shares during the last quarter. Albion Financial Group UT raised its holdings in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Corteva by 1.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after purchasing an additional 227 shares during the period. 81.54% of the stock is currently 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.