Gamble Jones Investment Counsel lifted its holdings in Corteva (NYSE:CTVA) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the company’s stock after purchasing an additional 512 shares during the period. Gamble Jones Investment Counsel’s holdings in Corteva were worth $224,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Neville Rodie & Shaw Inc. bought a new position in Corteva in the 2nd quarter worth $1,659,000. Park National Corp OH bought a new position in Corteva in the 2nd quarter worth $1,981,000. Private Asset Management Inc. bought a new position in Corteva in the 2nd quarter worth $654,000. Fulton Bank N.A. bought a new position in Corteva in the 2nd quarter worth $208,000. Finally, Summit Financial Group Inc. bought a new position in Corteva in the 2nd quarter worth $422,000. 72.44% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Gregory R. Friedman acquired 3,825 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $26.13 per share, for a total transaction of $99,947.25. Also, SVP Cornel B. Fuerer acquired 2,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $26.13 per share, for a total transaction of $52,260.00. In the last 90 days, insiders have bought 29,368 shares of company stock worth $838,567.
Shares of NYSE:CTVA traded up $0.05 on Friday, hitting $26.20. 2,974,773 shares of the company were exchanged, compared to its average volume of 5,615,176. The firm’s 50 day moving average price is $26.80. Corteva has a one year low of $24.35 and a one year high of $32.78.
Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Corteva will post 1.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.52 annualized dividend and a dividend yield of 1.98%.
Several research analysts recently commented on CTVA shares. Citigroup dropped their target price on shares of Corteva from $34.50 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Zacks Investment Research upgraded shares of Corteva from a “sell” rating to a “hold” rating in a report on Friday, November 1st. SunTrust Banks dropped their target price on shares of Corteva from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Deutsche Bank lifted their target price on shares of Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upgraded shares of Corteva from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $29.00 to $38.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Corteva presently has a consensus rating of “Hold” and a consensus target price of $31.50.
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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