Corteva (NYSE:CTVA) Rating Increased to Buy at Argus

Argus upgraded shares of Corteva (NYSE:CTVA - Free Report) from a hold rating to a buy rating in a research report released on Monday, MarketBeat reports. The firm currently has $69.00 price target on the stock.

Several other research analysts also recently weighed in on CTVA. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Oppenheimer upped their price target on 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 price objective on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.06.

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Corteva Stock Performance

CTVA traded down $4.52 during mid-day trading on Monday, reaching $56.78. 2,275,341 shares of the company traded hands, compared to its average volume of 3,226,273. The company's fifty day moving average price is $62.53 and its 200-day moving average price is $60.27. The stock has a market capitalization of $38.78 billion, a P/E ratio of 44.08, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, sell-side analysts expect 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. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, March 3rd. Corteva's payout ratio is 52.71%.

Insider Activity

In other Corteva 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 transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Corteva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth $31,000. Institutional investors and hedge funds own 81.54% of the company's stock.

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.