Sen. Gary C. Peters Sells Corteva, Inc. (NYSE:CTVA) Shares

Senator Gary C. Peters (Democratic-Michigan) recently sold shares of Corteva, Inc. (NYSE:CTVA). In a filing disclosed on May 11th, the Senator disclosed that they had sold between $15,001 and $50,000 in Corteva stock on April 23rd.

Corteva Trading Down 1.4%

Shares of NYSE CTVA traded down $1.13 during midday trading on Friday, hitting $82.17. The stock had a trading volume of 2,956,106 shares, compared to its average volume of 3,596,012. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63. The company has a market capitalization of $54.95 billion, a price-to-earnings ratio of 48.33, a PEG ratio of 2.56 and a beta of 0.59. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $81.11 and a 200 day moving average price of $73.37.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts predict that Corteva, Inc. will post 3.7 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is currently 42.35%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 8,311 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the completion of the sale, the insider directly owned 8,090 shares of the company’s stock, valued at $619,289.50. The trade was a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTVA. Citigroup upped their price objective on Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lowered shares of Corteva from an “overweight” rating to a “neutral” rating and raised their price target for the company from $75.00 to $77.00 in a research note on Thursday, February 5th. CICC Research raised their price target on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen cut shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Thirteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CTVA. Activest Wealth Management increased its stake in Corteva by 118.3% in the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after buying an additional 200 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Corteva in the 3rd quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Corteva in the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new position in Corteva in the fourth quarter worth approximately $28,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Corteva in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

About Senator Peters

Gary Peters (Democratic Party) is a member of the U.S. Senate from Michigan. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Peters (Democratic Party) ran for re-election to the U.S. Senate to represent Michigan. He won in the general election on November 3, 2020. Peters completed Ballotpedia’s Candidate Connection survey in 2020. Click here to read the survey answers. Peters was elected to the Senate in 2014. On May 1, 2013, Peters announced he would seek election to the United States Senate seat that was being vacated in 2014 by retiring Michigan Sen. Carl Levin. Peters ran unopposed in the Democratic primary on August 5, 2014, before he defeated Terri Lynn Land (R), Jim Fulner (Libertarian), Richard Matkin (U.S. Taxpayers), and Chris Wahmhoff (Green) in the general election on November 4, 2014. Peters was previously a member of the U.S. House of Representatives representing Michigan’s 9th Congressional District from 2009 to 2013 and Michigan’s 14th Congressional District from 2013 to 2015. He also served as Commissioner of the Michigan Lottery from 2003 to 2007. As of a 2014 analysis of multiple outside rankings, Peters is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. On January 28, 2021, Senate Majority Leader Chuck Schumer (D-N.Y.) appointed Peters to head the Democratic Senatorial Campaign Committee for the 2022 campaign cycle. Peters was born in 1958 in Pontiac, Michigan. After graduating from Alma College in 1980, Peters went on to receive his M.B.A. from the University of Detroit and his J.D. from Wayne State University in 1985 and 1989, respectively. Prior to his political career, Peters worked as a professor and investment banker. He also served in the United States Naval Reserve from 1993 to 2000 and from 2001 to 2005.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.