Corteva (NYSE:CTVA) Sets New 1-Year Low at $24.30

Corteva (NYSE:CTVA) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.30 and last traded at $24.40, with a volume of 152432 shares trading hands. The stock had previously closed at $25.18.

A number of research analysts have commented on CTVA shares. Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $29.00 to $38.00 in a research note on Friday, August 9th. Barclays set a $32.00 target price on shares of Corteva and gave the company a “hold” rating in a research note on Friday, November 1st. Redburn Partners started coverage on shares of Corteva in a report on Tuesday, November 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lowered shares of Corteva from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $27.00 in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Corteva from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.

The business’s fifty day moving average is $26.08.

Corteva (NYSE:CTVA) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.97 billion. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts predict that Corteva will post 1.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 27th.

In other news, EVP Timothy P. Glenn bought 5,150 shares of the business’s stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $26.13 per share, for a total transaction of $134,569.50. Also, SVP Cornel B. Fuerer purchased 2,000 shares of Corteva stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $26.13 per share, with a total value of $52,260.00. In the last ninety days, insiders acquired 15,975 shares of company stock worth $414,277.

Several institutional investors and hedge funds have recently modified their holdings of CTVA. Litman Gregory Asset Management LLC purchased a new stake in Corteva during the second quarter valued at about $26,000. Catalyst Capital Advisors LLC grew its position in Corteva by 261.2% during the third quarter. Catalyst Capital Advisors LLC now owns 939 shares of the company’s stock worth $26,000 after buying an additional 679 shares in the last quarter. Executive Wealth Management LLC bought a new position in Corteva in the 2nd quarter worth about $27,000. Acima Private Wealth LLC bought a new position in Corteva in the 3rd quarter worth about $27,000. Finally, Roble Belko & Company Inc purchased a new stake in shares of Corteva in the 2nd quarter valued at about $29,000. 74.70% of the stock is owned by institutional investors.

Corteva Company Profile (NYSE:CTVA)

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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