Analysts Set Corteva, Inc. (NYSE:CTVA) PT at $63.00

Corteva, Inc. (NYSE:CTVA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-two research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $63.00.

A number of brokerages have issued reports on CTVA. Mizuho decreased their price objective on Corteva from $61.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Royal Bank of Canada upped their price objective on Corteva from $62.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, May 6th. Wells Fargo & Company upped their price objective on Corteva from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th.

Corteva Price Performance

Shares of NYSE CTVA traded up $1.25 during mid-day trading on Thursday, reaching $52.27. The company's stock had a trading volume of 2,160,610 shares, compared to its average volume of 3,514,562. The firm has a market capitalization of $36.43 billion, a PE ratio of 64.58, a P/E/G ratio of 1.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock has a fifty day moving average of $54.34 and a two-hundred day moving average of $53.07. Corteva has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Corteva will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.22%. Corteva's dividend payout ratio (DPR) is presently 81.01%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the 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 sale, the insider now owns 13,495 shares of the company's stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently made changes to their positions in the business. CVA Family Office LLC purchased a new position in Corteva in the 4th quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva during the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva during the 1st quarter valued at about $25,000. BKM Wealth Management LLC purchased a new position in shares of Corteva during the 4th quarter valued at about $27,000. Finally, Rise Advisors LLC raised its stake in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company's stock valued at $27,000 after buying an additional 454 shares during the last quarter. Hedge funds and other institutional investors 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.