Arbor Wealth Management LLC Acquires Shares of 26,040 Corteva (NASDAQ:CTVA)

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Arbor Wealth Management LLC bought a new position in Corteva (NASDAQ:CTVA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,040 shares of the company’s stock, valued at approximately $770,000.

A number of other hedge funds have also recently modified their holdings of CTVA. Oregon Public Employees Retirement Fund bought a new stake in Corteva during the 2nd quarter valued at approximately $2,361,000. Regent Investment Management LLC bought a new stake in shares of Corteva in the 2nd quarter worth approximately $309,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Corteva in the 2nd quarter worth approximately $1,992,000. OLD National Bancorp IN bought a new stake in shares of Corteva in the 2nd quarter worth approximately $404,000. Finally, Aries Wealth Management bought a new stake in shares of Corteva in the 2nd quarter worth approximately $254,000.

Shares of Corteva stock opened at $28.42 on Friday. The firm has a 50-day moving average price of $28.93. Corteva has a one year low of $24.35 and a one year high of $32.78.

Corteva (NASDAQ:CTVA) last released its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.43. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.47 billion. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, July 30th.

A number of equities analysts have recently issued reports on the company. SunTrust Banks assumed coverage on Corteva in a report on Monday, June 3rd. They issued a “hold” rating and a $29.00 target price for the company. Goldman Sachs Group started coverage on Corteva in a report on Monday, June 3rd. They set a “neutral” rating and a $29.00 price target for the company. Barclays reaffirmed a “hold” rating and set a $35.00 price target on shares of Corteva in a report on Sunday, August 4th. Loop Capital began coverage on Corteva in a report on Monday, July 1st. They set a “hold” rating and a $31.00 price target for the company. Finally, Citigroup began coverage on Corteva in a research note on Monday, June 3rd. They issued a “neutral” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.86.

In other news, Director Gregory R. Page acquired 2,000 shares of Corteva stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $25.49 per share, for a total transaction of $50,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Further Reading: Stock Symbols and CUSIP Explained

Institutional Ownership by Quarter for Corteva (NASDAQ:CTVA)

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