Corteva, Inc. (NYSE:CTVA) Insider Brian Titus Sells 26,560 Shares

Corteva, Inc. (NYSE:CTVA) 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 value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Corteva Stock Performance

NYSE:CTVA opened at $62.65 on Thursday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business has a fifty day simple moving average of $61.09 and a two-hundred day simple moving average of $59.12. The company has a market capitalization of $42.95 billion, a P/E ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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%. On average, analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its board has approved a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC boosted its holdings in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after acquiring an additional 156 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC grew its holdings in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after buying an additional 166 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company increased 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, KeyCorp boosted their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

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.