Corteva, Inc. (NYSE:CTVA) SVP Buys $15,193.50 in Stock

Corteva, Inc. (NYSE:CTVA) SVP Cornel B. Fuerer bought 350 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $43.41 per share, with a total value of $15,193.50. Following the completion of the transaction, the senior vice president now directly owns 108,006 shares of the company’s stock, valued at $4,688,540.46. The transaction was disclosed in a filing with the SEC, which is available through this link.

Corteva Stock Up 0.7 %

Shares of NYSE:CTVA opened at $47.32 on Friday. The firm has a fifty day moving average of $49.64 and a 200 day moving average of $53.19. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $67.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market capitalization of $33.35 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.39 and a beta of 0.80.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.63 billion. Corteva had a return on equity of 7.47% and a net margin of 5.38%. The company’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) EPS. As a group, research analysts anticipate that Corteva, Inc. will post 2.61 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. Corteva’s payout ratio is 49.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Oppenheimer upgraded shares of Corteva from a “market perform” rating to an “outperform” rating and set a $67.00 target price for the company in a research report on Friday, October 20th. Credit Suisse Group restated an “outperform” rating and set a $74.00 target price on shares of Corteva in a research report on Friday, August 4th. Mizuho reduced their price target on Corteva from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Argus dropped their price objective on Corteva from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Finally, Morgan Stanley decreased their price target on Corteva from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.44.

Hedge Funds Weigh In On Corteva

Several institutional investors and hedge funds have recently made changes to their positions in CTVA. Bank Julius Baer & Co. Ltd Zurich boosted its position in Corteva by 93,588.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 322,957,033 shares of the company’s stock valued at $18,505,438,000 after buying an additional 322,612,318 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Corteva by 110,628.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after acquiring an additional 7,897,795 shares during the period. Norges Bank bought a new position in Corteva during the 4th quarter worth approximately $328,936,000. Harris Associates L P purchased a new position in Corteva in the 3rd quarter worth approximately $246,423,000. Finally, Boston Partners lifted its position in Corteva by 52.8% in the first quarter. Boston Partners now owns 9,950,274 shares of the company’s stock valued at $600,287,000 after purchasing an additional 3,438,104 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

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.