Corteva, Inc. (NYSE:CTVA) Insider Brian Titus Sells 26,560 Shares

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corteva Stock Performance

CTVA traded down $0.17 during trading on Monday, hitting $62.59. The stock had a trading volume of 3,005,092 shares, compared to its average volume of 3,552,174. The firm has a market cap of $42.91 billion, a PE ratio of 48.52, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a 50 day simple moving average of $60.81 and a 200-day simple moving average of $58.93.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has approved a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s payout ratio is 52.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CTVA shares. Barclays boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. KeyCorp upped their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Institutional Trading of Corteva

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the last quarter. State Street Corp raised its holdings in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after acquiring an additional 355,206 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

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.