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

Shares of Corteva, Inc. (NYSE:CTVA) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $68.00.

Several research firms have commented on CTVA. Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company.

Insiders Place Their Bets

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

Institutional Trading of Corteva

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTVA. Vanguard Group Inc. increased its holdings 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 buying an additional 646,459 shares during the last quarter. State Street Corp lifted its position in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 increased its position in shares of Corteva by 51.5% during the fourth 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. Finally, Franklin Resources Inc. boosted its stake in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.7 %

NYSE:CTVA opened at $62.12 on Tuesday. The stock has a fifty day moving average price of $62.48 and a 200 day moving average price of $59.95. The firm has a market cap of $42.59 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva has a 12-month low of $50.01 and a 12-month high of $66.24. 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 (NYSE:CTVA) last posted 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 return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva’s payout ratio is 52.71%.

Corteva Company Profile

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.