Corteva (NYSE:CTVA) Upgraded by Argus to “Buy” Rating

Argus upgraded shares of Corteva (NYSE:CTVA) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $69.00 price objective on the stock.

A number of other research analysts have also issued reports on CTVA. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Corteva Stock Up 0.7 %

Shares of NYSE:CTVA opened at $64.01 on Monday. Corteva has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a market cap of $43.72 billion, a P/E ratio of 49.62, a P/E/G ratio of 1.68 and a beta of 0.79. The firm has a fifty day moving average price of $62.59 and a 200 day moving average price of $60.26.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. Sell-side analysts predict that Corteva will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid 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 1.06%. Corteva’s payout ratio is 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, 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 currently owned by company insiders.

Institutional Trading of Corteva

Institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new position in Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the 4th quarter worth about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter worth $27,000. Pinney & Scofield Inc. acquired a new stake in Corteva in the 4th quarter valued at $27,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $31,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.