Ossiam purchased a new stake in shares of Corteva (NYSE:CTVA) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,513 shares of the company’s stock, valued at approximately $104,000.
Several other institutional investors and hedge funds have also modified their holdings of CTVA. JPMorgan Chase & Co. bought a new stake in shares of Corteva during the 2nd quarter valued at about $387,933,000. Northern Trust Corp bought a new stake in Corteva in the 2nd quarter worth approximately $270,149,000. Bank of New York Mellon Corp bought a new stake in Corteva in the 2nd quarter worth approximately $163,478,000. State Farm Mutual Automobile Insurance Co. bought a new stake in Corteva in the 2nd quarter worth approximately $143,435,000. Finally, Dupont Capital Management Corp bought a new stake in Corteva in the 2nd quarter worth approximately $125,975,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
CTVA stock traded up $0.09 during midday trading on Friday, hitting $29.99. The company had a trading volume of 96,234 shares, compared to its average volume of 3,766,631. Corteva has a 52 week low of $24.35 and a 52 week high of $32.78. The firm has a 50 day moving average price of $29.58.
Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that Corteva will post 1.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, July 31st will be given a $0.13 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 annualized dividend and a yield of 1.73%.
In related news, Director Klaus A. Engel acquired 18,393 shares of the stock in a transaction on Friday, August 30th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $551,790.00. Following the completion of the transaction, the director now owns 25,253 shares of the company’s stock, valued at approximately $757,590. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
CTVA has been the subject of a number of recent research reports. Macquarie initiated coverage on Corteva in a research report on Tuesday, June 4th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. initiated coverage on Corteva in a research report on Friday, June 21st. They issued an “overweight” rating and a $30.00 target price for the company. Monness Crespi & Hardt initiated coverage on Corteva in a research report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 target price for the company. Nomura initiated coverage on Corteva in a research report on Monday, June 10th. They issued a “neutral” rating and a $28.00 target price for the company. Finally, Goldman Sachs Group initiated coverage on Corteva in a research report on Monday, June 3rd. They issued a “neutral” rating and a $29.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.25.
Corteva Company Profile
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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