ST Germain D J Co. Inc. Takes $321,000 Position in Corteva (NASDAQ:CTVA)

ST Germain D J Co. Inc. bought a new stake in 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 firm bought 10,851 shares of the company’s stock, valued at approximately $321,000.

Several other hedge funds have also modified their holdings of the company. Factory Mutual Insurance Co. acquired a new stake in Corteva during the 2nd quarter valued at $31,186,000. New York State Teachers Retirement System acquired a new stake in Corteva during the 2nd quarter valued at $30,510,000. State of New Jersey Common Pension Fund D acquired a new stake in Corteva during the 2nd quarter valued at $19,713,000. Confluence Investment Management LLC acquired a new position in Corteva during the 2nd quarter worth $15,365,000. Finally, Gateway Investment Advisers LLC acquired a new position in Corteva during the 2nd quarter worth $15,124,000.

A number of research analysts have recently issued reports on CTVA shares. Sanford C. Bernstein started coverage on shares of Corteva in a research report on Wednesday, June 5th. They issued a “market perform” rating and a $31.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Corteva in a research report on Friday, June 21st. They issued an “overweight” rating and a $30.00 price target on the stock. BMO Capital Markets started coverage on shares of Corteva in a research report on Sunday, June 2nd. They issued an “outperform” rating and a $37.00 price target on the stock. Monness Crespi & Hardt started coverage on shares of Corteva in a research report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price target on the stock. Finally, Nomura started coverage on shares of Corteva in a research report on Monday, June 10th. They issued a “neutral” rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $31.21.

NASDAQ:CTVA traded down $1.56 during mid-day trading on Monday, hitting $29.90. The stock had a trading volume of 69,646 shares, compared to its average volume of 7,128,649. The stock’s 50 day moving average is $27.99. Corteva has a 52 week low of $24.35 and a 52 week high of $32.78.

Corteva (NASDAQ:CTVA) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS 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 the consensus estimate of $5.47 billion. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, July 31st will be paid a $0.13 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%.

In other Corteva news, Director Gregory R. Page acquired 2,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were bought at an average price of $25.49 per share, with a total value of $50,980.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for Corteva (NASDAQ:CTVA)

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