Corteva (NYSE:CTVA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Corteva (NYSE:CTVA) from a neutral rating to an overweight rating in a research note released on Thursday, MarketBeat reports. JPMorgan Chase & Co. currently has $67.00 price target on the stock.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $70.00 in a research note on Thursday. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Corteva in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Corteva Stock Down 0.2%

Shares of NYSE CTVA opened at $63.36 on Thursday. The stock has a market capitalization of $43.03 billion, a PE ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $71.24 and a 200-day moving average of $68.90. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. On average, analysts anticipate that Corteva will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s payout ratio is presently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’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 value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Corteva

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the last quarter. NBC Securities Inc. increased its holdings in Corteva by 93,350.0% in the first quarter. NBC Securities Inc. now owns 1,869 shares of the company’s stock valued at $117,000 after buying an additional 1,867 shares during the last quarter. Merit Financial Group LLC raised its stake in Corteva by 71.8% during the first quarter. Merit Financial Group LLC now owns 9,212 shares of the company’s stock valued at $580,000 after buying an additional 3,849 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Corteva during the 1st quarter worth approximately $294,000. Finally, Sendero Wealth Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $216,000. 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.