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

William B. Walkup & Associates Inc. decreased its position in Corteva, Inc. (NYSE:CTVA) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in Corteva in the fourth quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter valued at $27,000. LGT Financial Advisors LLC purchased a new stake in Corteva in the fourth quarter worth $31,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter valued at $32,000. Institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 of the company’s stock, valued at $723,257.78. This represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Corteva Stock Up 0.3%

CTVA opened at $68.80 on Tuesday. The firm has a market capitalization 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. Corteva, Inc. has a one year low of $50.01 and a one year high of $69.28. The company has a fifty day moving average price of $61.81 and a 200-day moving average price of $61.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

Several research firms have recently weighed in on CTVA. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. UBS Group lifted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price target on shares of Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.