KeyCorp Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its price target boosted by KeyCorp from $70.00 to $71.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CTVA has been the subject of a number of other reports. Wells Fargo & Company raised their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. UBS Group lowered their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.13.

Corteva Price Performance

Shares of CTVA opened at $60.28 on Monday. The firm has a 50-day simple moving average of $61.20 and a two-hundred day simple moving average of $60.27. The stock has a market cap of $41.17 billion, a PE ratio of 46.73, a P/E/G ratio of 1.68 and a beta of 0.73. Corteva 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 posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. As a group, analysts forecast that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Corteva

Large investors have recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the 4th quarter valued at $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the 4th quarter valued at $27,000. Pinney & Scofield Inc. acquired a new stake in Corteva during the 4th quarter worth $27,000. Finally, LGT Financial Advisors LLC purchased a new position in Corteva during the 4th quarter worth $31,000. 81.54% of the stock is owned by institutional investors and hedge funds.

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.