Insider Selling: Corteva, Inc. (NYSE:CTVA) Insider Sells 26,560 Shares of Stock

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 26,560 shares of the business’s 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 completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, 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 available through the SEC website.

Corteva Stock Performance

Corteva stock opened at $62.96 on Wednesday. The business has a 50 day moving average of $60.97 and a 200-day moving average of $59.09. The company has a market capitalization of $43.16 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

Corteva announced that its board has approved a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Corteva

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. State Street Corp raised its holdings in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during 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 purchasing an additional 355,206 shares during the period. Independent Franchise Partners LLP boosted its stake 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 valued at $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CTVA. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

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.