Brokerages Set Corteva, Inc. (NYSE:CTVA) Target Price at $63.24

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $63.05.

CTVA has been the subject of several research reports. Oppenheimer lifted 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. Deutsche Bank Aktiengesellschaft upped their price objective on Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Wolfe Research assumed coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. KeyCorp upped their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th.

Insider Transactions at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Corteva

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTVA. Cetera Advisors LLC grew its stake in Corteva by 39.1% during the 1st quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock valued at $1,985,000 after purchasing an additional 9,675 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Corteva by 221.9% during the first quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock worth $6,891,000 after buying an additional 82,369 shares in the last quarter. Atria Investments Inc increased its stake in shares of Corteva by 19.4% in the first quarter. Atria Investments Inc now owns 73,463 shares of the company’s stock worth $4,236,000 after buying an additional 11,956 shares during the last quarter. Swedbank AB bought a new stake in shares of Corteva in the first quarter worth $19,300,000. Finally, Sanibel Captiva Trust Company Inc. boosted its stake in Corteva by 2.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 13,061 shares of the company’s stock valued at $753,000 after acquiring an additional 316 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Down 0.1 %

Shares of CTVA stock opened at $55.51 on Wednesday. Corteva has a fifty-two week low of $43.22 and a fifty-two 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 business has a fifty day simple moving average of $56.05 and a 200-day simple moving average of $51.47. The stock has a market cap of $38.69 billion, a P/E ratio of 70.27, a P/E/G ratio of 1.47 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts forecast that Corteva will post 2.82 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.15%. Corteva’s dividend payout ratio is currently 81.01%.

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.