Corteva, Inc. (NYSE:CTVA) Insider Brian Titus Sells 12,134 Shares

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on 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 approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corteva Stock Down 1.2 %

Shares of Corteva stock opened at $56.82 on Thursday. The stock has a 50 day moving average price of $55.45 and a two-hundred day moving average price of $50.74. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. The stock has a market capitalization of $39.60 billion, a P/E ratio of 71.92, a PEG ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings results 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. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Corteva’s payout ratio is 81.01%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent research reports. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Mizuho raised their price objective on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Friday, February 2nd. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, UBS Group dropped their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.24.

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently added to or reduced their stakes in CTVA. Vanguard Group Inc. increased its holdings in Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after buying an additional 1,941,323 shares during the period. Capital International Investors raised its stake in Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after acquiring an additional 8,260,808 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Corteva by 19.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after purchasing an additional 2,141,428 shares in the last quarter. Northern Trust Corp boosted its position in Corteva by 2.5% in the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Corteva by 7.2% during the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after buying an additional 617,030 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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.