Charles V. Magro, the Chief Executive Officer of Corteva , Inc. (NYSE:CTVA), a $43.7 billion market cap agricultural company with strong financial health according to InvestingPro, recently sold 46,905 shares of the company’s common stock. The shares were sold at a weighted average price of $63.82, amounting to a total transaction value of approximately $2.99 million. This sale was part of Magro’s asset diversification strategy, as noted in the filing. The transaction occurs as the stock trades near its 52-week high of $66.24.
In addition to the sale, Magro acquired 36,147 shares of common stock at no cost, which was part of a previously granted restricted stock unit vesting. He also received 97,859 non-qualified stock options, which will vest in three equal annual installments starting February 18, 2026.
Following these transactions, Magro holds a total of 231,895.6587 shares of Corteva, Inc.
In other recent news, Corteva Inc. reported fourth-quarter earnings that aligned with expectations, posting an adjusted earnings per share (EPS) of $0.32 and revenue of $4 billion. However, the company’s guidance for 2025 earnings per share, ranging from $2.70 to $2.95, fell short of the $3.19 consensus estimate. Additionally, Corteva’s net sales for 2024 were $16.9 billion, a 2% decrease from 2023, with organic sales increasing by 1%. BofA Securities raised Corteva’s stock price target from $69 to $73, maintaining a Buy rating, citing a solid outlook for 2025 despite challenges in the agricultural sector. Similarly, Mizuho increased its price target to $71 from $67, maintaining an Outperform rating, and highlighted Corteva’s strong Seed portfolio and potential for growth despite foreign exchange headwinds. Meanwhile, EIDP Inc., a subsidiary of Corteva, announced a restatement of its financials due to a cash flow misclassification involving intercompany loans, though this did not affect Corteva’s consolidated financial statements. Lastly, Corteva announced the resignation of Dr. Rebecca Liebert from its Board of Directors, effective February 28, 2025, with no disagreements cited as the reason for her departure.
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