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

St. James Investment Company LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 7.4% in the 4th quarter, Holdings Channel reports. The firm owned 361,495 shares of the company’s stock after selling 29,061 shares during the period. Corteva accounts for about 2.8% of St. James Investment Company LLC’s holdings, making the stock its 17th largest position. St. James Investment Company LLC’s holdings in Corteva were worth $17,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WCM Investment Management LLC lifted its stake in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Corteva in the 3rd quarter valued at $1,258,000. 17 Capital Partners LLC bought a new position in shares of Corteva in the 4th quarter valued at $1,649,000. Factory Mutual Insurance Co. lifted its stake in shares of Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after acquiring an additional 51,500 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after acquiring an additional 68,593 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA traded down $0.11 during midday trading on Tuesday, reaching $53.56. The company’s stock had a trading volume of 576,986 shares, compared to its average volume of 3,643,927. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.06. The firm has a 50 day moving average price of $55.17 and a 200-day moving average price of $50.20. The stock has a market capitalization of $37.43 billion, a P/E ratio of 52.62, a PEG ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts predict that Corteva, Inc. will post 2.86 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.19%. Corteva’s payout ratio is 62.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTVA. Barclays increased their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Mizuho dropped their price target on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.29.

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.