Corteva, Inc. (NYSE:CTVA) Receives Consensus Rating of “Moderate Buy” from Analysts

Corteva, Inc. (NYSE:CTVA) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $68.13.

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st.

Corteva Stock Up 0.8 %

Shares of CTVA opened at $59.69 on Friday. The firm has a fifty day moving average price of $60.97 and a 200-day moving average price of $60.28. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.77 billion, a P/E ratio of 46.27, a P/E/G ratio of 1.68 and a beta of 0.73. Corteva has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities research analysts expect that Corteva will post 2.96 earnings per share for the current 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 dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently bought and sold shares of the stock. Clarius Group LLC boosted its holdings in Corteva by 147.6% during the first quarter. Clarius Group LLC now owns 8,742 shares of the company’s stock worth $550,000 after buying an additional 5,211 shares in the last quarter. Cardinal Capital Management grew its position in shares of Corteva by 1.7% during the 1st quarter. Cardinal Capital Management now owns 26,417 shares of the company’s stock valued at $1,662,000 after acquiring an additional 448 shares during the period. Chicago Capital LLC raised its holdings in Corteva by 14.0% in the 1st quarter. Chicago Capital LLC now owns 4,897 shares of the company’s stock worth $308,000 after purchasing an additional 600 shares during the period. QRG Capital Management Inc. increased its position in shares of Corteva by 101.5% in the first quarter. QRG Capital Management Inc. now owns 55,541 shares of the company’s stock valued at $3,495,000 after buying an additional 27,978 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its position in shares of Corteva by 42.1% during the 1st quarter. Sagespring Wealth Partners LLC now owns 7,816 shares of the company’s stock valued at $492,000 after buying an additional 2,316 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.