Brokerages Set Corteva, Inc. (NYSE:CTVA) Price Target at $67.73

Shares of Corteva, Inc. (NYSE:CTVA) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $67.73.

A number of research firms have recently commented on CTVA. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays upped their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup raised their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th.

Corteva Stock Up 0.0 %

Shares of CTVA opened at $62.82 on Friday. Corteva has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $61.23 and a 200 day moving average of $59.14. The company has a market cap of $43.07 billion, a PE ratio of 48.70, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts expect that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva announced that its board has approved a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corteva

Several large investors have recently bought and sold shares of CTVA. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new position in Corteva during the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new stake in Corteva in the 4th quarter valued at about $27,000. Finally, LGT Financial Advisors LLC purchased a new position in Corteva in the 4th quarter worth approximately $31,000. 81.54% of the stock is currently owned by hedge funds and other 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.