Corteva, Inc. (NYSE:CTVA) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,561 shares of the company’s stock after selling 7,254 shares during the quarter. Argyle Capital Management Inc.’s holdings in Corteva were worth $1,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTVA. CVA Family Office LLC acquired a new position in shares of Corteva during the fourth quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth about $27,000. NewSquare Capital LLC lifted its stake in shares of Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its position in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the last quarter. Finally, Union Savings Bank increased its position in shares of Corteva by 58.5% during the third quarter. Union Savings Bank now owns 577 shares of the company’s stock worth $30,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. KeyCorp boosted their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Barclays boosted their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price objective on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Stock Performance

CTVA stock traded up $0.22 on Friday, reaching $54.92. The company’s stock had a trading volume of 2,350,151 shares, compared to its average volume of 2,425,831. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.87. The company has a market capitalization of $38.38 billion, a P/E ratio of 53.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The firm has a fifty day moving average of $55.28 and a two-hundred day moving average of $50.46. 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 issued its quarterly earnings data 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. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the company posted $0.16 EPS. As a group, analysts predict that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, June 4th. Corteva’s payout ratio is currently 62.75%.

Corteva 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.