Elkfork Partners LLC purchased a new position in shares of Corteva (NYSE:CTVA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,008 shares of the company’s stock, valued at approximately $858,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC purchased a new stake in Corteva in the 2nd quarter worth approximately $26,000. Executive Wealth Management LLC purchased a new stake in shares of Corteva during the 2nd quarter valued at $27,000. Manchester Financial Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $30,000. SRS Capital Advisors Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $30,000. Finally, Resources Investment Advisors LLC. purchased a new stake in shares of Corteva during the 2nd quarter valued at $30,000. 72.15% of the stock is currently owned by hedge funds and other institutional investors.
CTVA stock opened at $27.80 on Friday. Corteva has a 12-month low of $24.35 and a 12-month high of $32.78. The business has a 50 day moving average of $29.39.
Corteva (NYSE:CTVA) last released its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.43. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.47 billion. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Corteva will post 1.17 earnings per share for the current year.
Several analysts have recently issued reports on CTVA shares. Monness Crespi & Hardt started coverage on shares of Corteva in a research note on Wednesday, July 17th. They set a “sell” rating and a $24.00 price objective for the company. Macquarie initiated coverage on shares of Corteva in a research report on Tuesday, June 4th. They set an “outperform” rating for the company. SunTrust Banks began coverage on shares of Corteva in a report on Monday, June 3rd. They issued a “hold” rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Corteva in a research note on Friday, June 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Corteva in a research note on Monday, June 3rd. They issued an “equal weight” rating and a $32.00 target price on the stock. 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’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.25.
In related news, Director Klaus A. Engel purchased 18,393 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $551,790.00. Following the transaction, the director now directly owns 25,253 shares of the company’s stock, valued at approximately $757,590. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
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.
Recommended Story: Mutual Funds
Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.