Corteva, Inc. (NYSE:CTVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $68.00.

Several analysts have commented on the stock. KeyCorp lifted their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Citigroup boosted their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Bank of America increased their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th.

Corteva Trading Down 0.2 %

Shares of CTVA stock opened at $61.70 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market capitalization of $42.30 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.68 and a beta of 0.79. Corteva has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a 50-day simple moving average of $62.44 and a two-hundred day simple moving average of $59.87.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Research analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Corteva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its position in shares of Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC lifted its position in Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after buying an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its holdings in shares of Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after buying an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

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.