Holderness Investments Co. acquired a new position in shares of Corteva (NASDAQ:CTVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,942 shares of the company’s stock, valued at approximately $501,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CTVA. Litman Gregory Asset Management LLC purchased a new stake in shares of Corteva in the 2nd quarter valued at about $26,000. Executive Wealth Management LLC purchased a new stake in shares of Corteva in the 2nd quarter valued at about $27,000. Manchester Financial Inc. purchased a new stake in shares of Corteva in the 2nd quarter valued at about $30,000. Central Bank & Trust Co. purchased a new stake in shares of Corteva in the 2nd quarter valued at about $31,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of Corteva in the 2nd quarter valued at about $33,000.
Several analysts have weighed in on the company. Royal Bank of Canada raised Corteva from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $29.00 to $38.00 in a report on Friday, August 9th. BMO Capital Markets assumed coverage on Corteva in a report on Sunday, June 2nd. They issued an “outperform” rating and a $37.00 price target on the stock. Argus assumed coverage on Corteva in a report on Thursday, June 20th. They issued a “hold” rating on the stock. Monness Crespi & Hardt assumed coverage on Corteva in a report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price target on the stock. Finally, UBS Group assumed coverage on Corteva in a report on Tuesday, June 4th. They issued a “buy” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Corteva has an average rating of “Hold” and an average price target of $31.86.
Shares of NASDAQ CTVA traded up $1.82 during trading hours on Friday, reaching $30.24. 4,182,200 shares of the stock traded hands, compared to its average volume of 6,775,557. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78. The business’s 50-day moving average is $28.93.
Corteva (NASDAQ:CTVA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.43. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Corteva’s revenue for the quarter was down 3.1% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%.
In other news, Director Gregory R. Page acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average cost of $25.49 per share, with a total value of $50,980.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
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