Corteva, Inc. (NYSE:CTVA) Insider Brian Titus Sells 12,134 Shares

Corteva, Inc. (NYSE:CTVA) 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 completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Corteva Stock Performance

NYSE CTVA traded down $0.70 during trading on Wednesday, hitting $56.82. The company’s stock had a trading volume of 4,291,853 shares, compared to its average volume of 3,574,410. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $39.60 billion, a P/E ratio of 72.52, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The firm has a 50 day moving average price of $55.45 and a 200 day moving average price of $50.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.13%. Corteva’s dividend payout ratio is currently 81.01%.

Analyst Ratings Changes

CTVA has been the topic of a number of research reports. BMO Capital Markets upped their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group lowered their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.24.

Hedge Funds Weigh In On Corteva

Several institutional investors have recently added to or reduced their stakes in CTVA. Capital International Investors increased its holdings in shares of Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares in the last quarter. Norges Bank bought a new stake in shares of Corteva during the fourth quarter worth $265,298,000. Harris Associates L P acquired a new stake in shares of Corteva in the third quarter valued at $246,423,000. Van ECK Associates Corp raised its holdings in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after buying an additional 3,366,106 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Corteva by 29.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

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.