Corteva, Inc. (NYSE:CTVA) Receives $68.00 Average Target Price from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $68.00.

CTVA has been the topic of several recent analyst reports. 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 note on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Barclays lifted 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. Finally, BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated 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 completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Corteva

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the period. State Street Corp increased its holdings in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the period. Independent Franchise Partners LLP lifted its stake in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after buying an additional 5,604,838 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $61.86 on Tuesday. Corteva has a 52 week low of $50.01 and a 52 week high of $66.24. 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 stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 1.68 and a beta of 0.79. The firm has a fifty day moving average of $62.34 and a two-hundred day moving average of $59.81.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts predict that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.