St. James Investment Company LLC Acquires 1,368 Shares of Corteva, Inc. $CTVA

St. James Investment Company LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,544 shares of the company’s stock after buying an additional 1,368 shares during the period. Corteva makes up approximately 3.6% of St. James Investment Company LLC’s portfolio, making the stock its 11th biggest position. St. James Investment Company LLC’s holdings in Corteva were worth $22,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its position in Corteva by 3.1% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 6,227 shares of the company’s stock valued at $464,000 after buying an additional 190 shares in the last quarter. Whittier Trust Co. increased its position in Corteva by 1.3% in the 2nd quarter. Whittier Trust Co. now owns 24,094 shares of the company’s stock valued at $1,796,000 after buying an additional 302 shares in the last quarter. Probity Advisors Inc. increased its position in Corteva by 3.3% in the 2nd quarter. Probity Advisors Inc. now owns 9,025 shares of the company’s stock valued at $673,000 after buying an additional 289 shares in the last quarter. Phoenix Financial Ltd. bought a new stake in Corteva in the 2nd quarter valued at about $258,000. Finally, DekaBank Deutsche Girozentrale increased its position in Corteva by 7.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 142,530 shares of the company’s stock valued at $10,521,000 after buying an additional 10,168 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $61.93 on Wednesday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The stock’s 50 day moving average price is $69.04 and its 200-day moving average price is $68.97. The company has a market capitalization of $42.05 billion, a PE ratio of 30.21, a PEG ratio of 1.42 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. Oppenheimer set a $87.00 target price on Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Argus decreased their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $80.31.

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.