Insider Selling: Corteva, Inc. (NYSE:CTVA) Insider Sells 12,134 Shares of Stock

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corteva Stock Down 1.2 %

Shares of CTVA stock traded down $0.70 during mid-day trading on Wednesday, hitting $56.82. The stock had a trading volume of 4,291,853 shares, compared to its average volume of 3,574,410. The firm has a market capitalization of $39.60 billion, a P/E ratio of 72.52, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. 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, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. The firm’s 50-day moving average is $55.45 and its two-hundred day moving average is $50.74.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. On average, analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Institutional Investors Weigh In On Corteva

Institutional investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its position in Corteva by 14.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock worth $603,000 after purchasing an additional 1,506 shares during the last quarter. Lindbrook Capital LLC grew its stake in Corteva by 9.3% during the 3rd quarter. Lindbrook Capital LLC now owns 3,186 shares of the company’s stock valued at $163,000 after purchasing an additional 271 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Corteva by 1.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 233,555 shares of the company’s stock valued at $11,949,000 after purchasing an additional 2,386 shares during the period. Brighton Jones LLC raised its stake in shares of Corteva by 7.0% in the third quarter. Brighton Jones LLC now owns 5,212 shares of the company’s stock worth $267,000 after purchasing an additional 342 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Corteva by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 141,713 shares of the company’s stock valued at $7,250,000 after buying an additional 5,035 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CTVA. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Friday, February 2nd. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Mizuho lifted their price objective 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. Finally, Wolfe Research assumed coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $63.24.

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.