Rothschild & Co Redburn Cuts Corteva (NYSE:CTVA) Price Target to $65.00

Corteva (NYSE:CTVA) had its price objective decreased by Rothschild & Co Redburn from $71.00 to $65.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. Rothschild & Co Redburn currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on CTVA. Morgan Stanley set a $84.00 target price on shares of Corteva in a research report on Monday, September 15th. Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wolfe Research upped their price objective on shares of Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group lowered their target price on Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Finally, Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.39.

Corteva Stock Down 0.3%

Corteva stock traded down $0.22 during trading on Tuesday, reaching $65.98. 2,862,368 shares of the company’s stock were exchanged, compared to its average volume of 4,044,427. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The firm has a market cap of $44.58 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The company’s 50-day moving average is $65.83 and its two-hundred day moving average is $69.52.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. On average, analysts predict that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Corteva

A number of hedge funds and other institutional investors have recently bought and sold shares of CTVA. Moody National Bank Trust Division lifted its holdings in shares of Corteva by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after purchasing an additional 150 shares during the period. NORTHSTAR ASSET MANAGEMENT Co increased its stake in shares of Corteva by 2.2% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after buying an additional 152 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Corteva by 0.6% during the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after buying an additional 153 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.