Brokerages Set Corteva, Inc. (NYSE:CTVA) Price Target at $79.94

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $79.6875.

A number of research analysts have weighed in on CTVA shares. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. UBS Group cut their price target on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Thursday, October 2nd. Finally, Oppenheimer reduced their target price on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC boosted its position in Corteva by 18.1% during the third quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock worth $30,119,000 after acquiring an additional 68,380 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Corteva by 4.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 87,870 shares of the company’s stock worth $5,970,000 after purchasing an additional 3,472 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Corteva by 7.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 19,315 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,311 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Corteva by 418.4% in the third quarter. Retirement Systems of Alabama now owns 758,864 shares of the company’s stock valued at $51,322,000 after purchasing an additional 612,485 shares in the last quarter. Finally, Sagespring Wealth Partners LLC increased its holdings in shares of Corteva by 3.4% in the third quarter. Sagespring Wealth Partners LLC now owns 12,224 shares of the company’s stock valued at $827,000 after purchasing an additional 402 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 0.3%

Shares of NYSE:CTVA opened at $61.51 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41. The business has a 50 day moving average of $67.53 and a two-hundred day moving average of $69.26. The company has a market capitalization of $41.77 billion, a PE ratio of 30.00, a PEG ratio of 1.41 and a beta of 0.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the company earned $1.83 EPS. The business’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Corteva will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

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.