Corteva, Inc. (NYSE:CTVA) Receives $78.05 Average Target Price from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $78.0526.

CTVA has been the topic of several analyst reports. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. Argus decreased their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Oppenheimer reiterated an “outperform” rating and set a $76.00 price objective on shares of Corteva in a research report on Friday, November 7th. Mizuho cut their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane raised their target price on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th.

Insiders Place Their Bets

In other news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Corteva

Several institutional investors have recently made changes to their positions in CTVA. Nuveen LLC purchased a new stake in Corteva in the 1st quarter worth approximately $640,333,000. Norges Bank purchased a new position in shares of Corteva during the 2nd quarter valued at $434,220,000. Pacer Advisors Inc. increased its stake in shares of Corteva by 4,007.1% in the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after acquiring an additional 2,382,715 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after acquiring an additional 2,066,519 shares in the last quarter. Finally, Amundi boosted its position in Corteva by 125.3% during the third quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after purchasing an additional 1,899,248 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 0.7%

Shares of Corteva stock opened at $66.10 on Friday. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41. The firm has a market capitalization of $44.67 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $64.69 and its 200-day moving average is $69.71.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.49) EPS. Equities analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

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 given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

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.