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

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $67.73.

A number of research firms recently issued reports on CTVA. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada increased their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Corteva Stock Up 0.0 %

CTVA stock opened at $62.82 on Friday. The company’s 50 day moving average is $61.23 and its 200 day moving average is $59.14. The stock has a market cap of $43.07 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly 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 return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’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 completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Corteva

A number of large investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its holdings in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC grew its holdings in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after acquiring an additional 158 shares during the period. Lake Street Advisors Group LLC increased its position in Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after acquiring an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

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.