Saturna Capital CORP bought a new stake in Corteva (NASDAQ:CTVA) in the second quarter, HoldingsChannel reports. The fund bought 215,153 shares of the company’s stock, valued at approximately $6,362,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Litman Gregory Asset Management LLC acquired a new stake in shares of Corteva in the 2nd quarter valued at about $26,000. Manchester Financial Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at about $30,000. Central Bank & Trust Co. acquired a new stake in shares of Corteva in the 2nd quarter valued at about $31,000. Atwood & Palmer Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at about $33,000. Finally, Trustcore Financial Services LLC acquired a new stake in shares of Corteva in the 2nd quarter valued at about $35,000.
In related news, Director Gregory R. Page acquired 2,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was 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 the SEC website.
Corteva stock traded up $0.28 during mid-day trading on Tuesday, reaching $29.91. 143,339 shares of the company were exchanged, compared to its average volume of 6,919,487. Corteva has a twelve month low of $24.35 and a twelve month high of $32.78. The stock has a 50-day moving average price of $28.89.
Corteva (NASDAQ:CTVA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.
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 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 yield of 1.74%.
CTVA has been the subject of a number of research analyst reports. SunTrust Banks initiated coverage on Corteva in a research report on Monday, June 3rd. They issued a “hold” rating and a $29.00 target price for the company. Deutsche Bank upped their target price on Corteva from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. 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. Jefferies Financial Group initiated coverage on Corteva in a research report on Wednesday, May 29th. They issued a “buy” rating for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.86.
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