Reynders McVeigh Capital Management LLC Invests $261,000 in Corteva (NASDAQ:CTVA)

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Reynders McVeigh Capital Management LLC bought a new position in Corteva (NASDAQ:CTVA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,835 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Litman Gregory Asset Management LLC purchased a new stake in shares of Corteva in the second quarter worth $26,000. Executive Wealth Management LLC purchased a new stake in shares of Corteva in the second quarter worth $27,000. Manchester Financial Inc. purchased a new stake in shares of Corteva in the second quarter worth $30,000. Central Bank & Trust Co. purchased a new stake in shares of Corteva in the second quarter worth $31,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of Corteva in the second quarter worth $33,000.

A number of analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Corteva in a research note on Tuesday, June 4th. They issued a “buy” rating and a $38.00 price objective for the company. Barclays reaffirmed a “hold” rating and set a $35.00 target price on shares of Corteva in a research note on Sunday, August 4th. Morgan Stanley started coverage on shares of Corteva in a research note on Monday, June 3rd. They set an “equal weight” rating and a $32.00 target price for the company. Goldman Sachs Group started coverage on shares of Corteva in a research note on Monday, June 3rd. They set a “neutral” rating and a $29.00 target price for the company. Finally, SunTrust Banks started coverage on shares of Corteva in a research note on Monday, June 3rd. They set a “hold” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.25.

Shares of NASDAQ:CTVA traded down $1.24 on Friday, reaching $29.05. The company’s stock had a trading volume of 3,445,460 shares, compared to its average volume of 6,518,286. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78. The business has a 50-day moving average price of $29.10.

Corteva (NASDAQ:CTVA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.43. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Corteva’s quarterly revenue 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. Shareholders of record on Wednesday, July 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%.

In other Corteva news, Director Gregory R. Page acquired 2,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of $25.49 per share, with a total value of $50,980.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Further Reading: Can individual investors take part in an IPO?

Institutional Ownership by Quarter for Corteva (NASDAQ:CTVA)

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