Cwm LLC Buys Shares of 5,895 Corteva (NYSE:CTVA)

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CWM LLC acquired a new stake in Corteva (NYSE:CTVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,895 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neville Rodie & Shaw Inc. acquired a new stake in shares of Corteva during the 2nd quarter worth $1,659,000. Park National Corp OH acquired a new position in shares of Corteva during the 2nd quarter worth $1,981,000. Private Asset Management Inc. bought a new position in Corteva in the second quarter valued at about $654,000. Fulton Bank N.A. acquired a new position in Corteva during the second quarter worth about $208,000. Finally, Summit Financial Group Inc. bought a new stake in shares of Corteva during the 2nd quarter valued at approximately $422,000. Institutional investors and hedge funds own 72.13% of the company’s stock.

In other Corteva news, Director Klaus A. Engel acquired 18,393 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $30.00 per share, with a total value of $551,790.00. Following the completion of the acquisition, the director now owns 25,253 shares of the company’s stock, valued at $757,590. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CTVA has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Corteva in a research report on Wednesday, May 29th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Corteva in a research note on Friday, June 21st. They set an “overweight” rating and a $30.00 price target for the company. Monness Crespi & Hardt began coverage on shares of Corteva in a research note on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Corteva in a research report on Monday, June 3rd. They set an “equal weight” rating and a $32.00 target price for the company. Finally, Citigroup raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $34.50 in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.25.

CTVA opened at $29.27 on Thursday. The stock has a 50-day simple moving average of $29.58. Corteva has a twelve month low of $24.35 and a twelve month high of $32.78.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts expect that Corteva will post 1.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, July 31st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.78%.

About Corteva

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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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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