Corteva, Inc. (NYSE:CTVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.00.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock.

Insider Activity

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. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Corteva

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the last quarter. Norges Bank acquired a new position in Corteva in the 4th quarter valued at about $251,892,000. Raymond James Financial Inc. acquired a new stake in Corteva during the fourth quarter worth $161,052,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $99,869,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $61.70 on Tuesday. 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. The business has a 50 day moving average of $62.44 and a 200 day moving average of $59.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly 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%. On average, sell-side analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend 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.