William B. Walkup & Associates Inc. Sells 356 Shares of Corteva, Inc. (NYSE:CTVA)

William B. Walkup & Associates Inc. lowered its stake in Corteva, Inc. (NYSE:CTVA) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,084 shares of the company’s stock after selling 356 shares during the period. William B. Walkup & Associates Inc.’s holdings in Corteva were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Vanguard Group Inc. grew its holdings in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the period. Franklin Resources Inc. grew its stake in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors increased its holdings in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after purchasing an additional 12,381,436 shares during the period. Finally, Northern Trust Corp raised its position in Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after purchasing an additional 608,898 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CTVA shares. The Goldman Sachs Group started coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. KeyCorp raised their price target on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Bank of America upped their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.50.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.3%

CTVA opened at $68.80 on Tuesday. The company has a fifty day moving average price of $61.81 and a two-hundred day moving average price of $61.04. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.28. The company has a market cap of $46.93 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.99%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

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.