Sawgrass Asset Management LLC bought a new position in Corteva (NASDAQ:CTVA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,174 shares of the company’s stock, valued at approximately $360,000.
Other hedge funds have also recently modified their holdings of the company. Central Bank & Trust Co. purchased a new position in Corteva in the 2nd quarter worth $31,000. Atwood & Palmer Inc. purchased a new position in Corteva in the 2nd quarter worth $33,000. Truewealth LLC purchased a new position in Corteva in the 2nd quarter worth $36,000. Baldwin Brothers Inc. MA purchased a new position in Corteva in the 2nd quarter worth $37,000. Finally, Tompkins Financial Corp acquired a new stake in Corteva during the 2nd quarter worth about $44,000.
In other Corteva news, Director Gregory R. Page bought 2,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were purchased at an average cost of $25.49 per share, for a total transaction of $50,980.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Corteva (NASDAQ:CTVA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was down 3.1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, July 30th.
Several brokerages have weighed in on CTVA. Deutsche Bank increased their price target on Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group began coverage on Corteva in a research report on Wednesday, May 29th. They set a “buy” rating on the stock. Nomura began coverage on Corteva in a research report on Monday, June 10th. They set a “neutral” rating and a $28.00 price target on the stock. Royal Bank of Canada began coverage on Corteva in a research report on Thursday, June 20th. They set a “sector perform” rating and a $29.00 price target on the stock. Finally, Morgan Stanley began coverage on Corteva in a research report on Monday, June 3rd. They set an “equal weight” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Corteva currently has a consensus rating of “Hold” and an average price target of $31.00.
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