St. James Investment Company LLC Sells 29,061 Shares of Corteva, Inc. (NYSE:CTVA)

St. James Investment Company LLC cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 361,495 shares of the company's stock after selling 29,061 shares during the quarter. Corteva comprises approximately 2.8% of St. James Investment Company LLC's portfolio, making the stock its 17th largest holding. St. James Investment Company LLC owned about 0.05% of Corteva worth $17,323,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC increased its stake in shares of Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company's stock worth $341,590,000 after acquiring an additional 213,949 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Corteva during the third quarter worth about $1,258,000. 17 Capital Partners LLC purchased a new stake in Corteva during the fourth quarter worth about $1,649,000. Factory Mutual Insurance Co. boosted its holdings in Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company's stock worth $25,520,000 after buying an additional 51,500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock worth $39,794,000 after buying an additional 68,593 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Corteva from $55.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a report on Friday. KeyCorp upped their price target on shares of Corteva from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They issued an "outperform" rating and a $67.00 price objective for the company. Finally, Oppenheimer boosted their price objective on shares of Corteva from $62.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.29.

Corteva Stock Performance

Shares of Corteva stock traded down $0.35 during trading hours on Tuesday, reaching $53.32. The company's stock had a trading volume of 2,742,837 shares, compared to its average volume of 3,668,961. The company's 50 day simple moving average is $55.20 and its 200 day simple moving average is $50.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.06. The stock has a market cap of $37.26 billion, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm posted $0.16 EPS. As a group, analysts expect that Corteva, Inc. will post 2.86 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. Corteva's dividend payout ratio (DPR) is presently 62.75%.

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.