Corteva, Inc. (NYSE:CTVA - Get Free Report) insider Brian Titus sold 12,134 shares of the firm's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Corteva Price Performance
Corteva stock opened at $56.82 on Thursday. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 71.92, a PEG ratio of 1.50 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $55.45 and a 200 day simple moving average of $50.74. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81.
Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. On average, research analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.
Corteva Dividend Announcement
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. Corteva's dividend payout ratio is 81.01%.
Institutional Investors Weigh In On Corteva
A number of hedge funds have recently made changes to their positions in CTVA. Capital International Investors increased its position in shares of Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company's stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares during the period. Norges Bank purchased a new stake in Corteva in the 4th quarter worth approximately $265,298,000. Harris Associates L P purchased a new position in shares of Corteva during the third quarter valued at approximately $246,423,000. Van ECK Associates Corp lifted its stake in Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company's stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Corteva by 29.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company's stock valued at $567,624,000 after purchasing an additional 2,545,570 shares during the period. 81.54% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on CTVA shares. BNP Paribas raised shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a research report on Friday, February 2nd. BMO Capital Markets increased their price target on Corteva from $64.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. KeyCorp raised their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Finally, Mizuho increased their target price on shares of Corteva from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.24.
Check Out Our Latest Research Report on Corteva
Corteva Company Profile
(
Get Free Report)
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.
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