Brian Titus Sells 12,134 Shares of Corteva, Inc. (NYSE:CTVA) Stock

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 12,134 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Corteva Price Performance

Shares of CTVA opened at $57.83 on Friday. The firm has a 50-day simple moving average of $55.50 and a two-hundred day simple moving average of $50.78. The stock has a market cap of $40.31 billion, a PE ratio of 73.20, a P/E/G ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm earned $1.16 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Hedge Funds Weigh In On Corteva

Several institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC grew its holdings in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares in the last quarter. Parsons Capital Management Inc. RI purchased a new stake in shares of Corteva during the first quarter worth $230,000. 17 Capital Partners LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $1,649,000. Factory Mutual Insurance Co. boosted its holdings in Corteva by 10.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after purchasing an additional 68,593 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Friday, February 2nd. UBS Group decreased their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Canaccord Genuity Group upped their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.24.

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.