Corteva (NYSE:CTVA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Corteva (NYSE:CTVA) from a hold rating to a buy rating in a report issued on Sunday.

Several other research analysts have also recently issued reports on CTVA. Royal Bank Of Canada cut their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Thursday, October 2nd. Mizuho lowered their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, Argus reduced their price target on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $78.39.

Corteva Stock Up 1.0%

Shares of NYSE:CTVA opened at $64.55 on Friday. The stock has a market capitalization of $43.62 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81. The stock’s 50-day moving average price is $65.36 and its 200-day moving average price is $69.68. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the business posted ($0.49) EPS. Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently modified their holdings of CTVA. Gladwyn Financial Advisors Inc. bought a new position in Corteva in the 2nd quarter worth about $25,000. Total Investment Management Inc. purchased a new position in Corteva in the second quarter worth about $27,000. Activest Wealth Management lifted its stake in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Curat Global LLC lifted its stake in shares of Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Corteva during the third quarter valued at approximately $25,000. 81.54% of the stock is owned by hedge funds and other 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.