Reynders McVeigh Capital Management LLC Buys Shares of 8,835 Corteva (NASDAQ:CTVA)

Reynders McVeigh Capital Management LLC bought a new stake in shares of Corteva (NASDAQ:CTVA) during the second quarter, Holdings Channel reports. The fund bought 8,835 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Neville Rodie & Shaw Inc. purchased a new position in shares of Corteva in the 2nd quarter worth $1,659,000. Park National Corp OH purchased a new position in shares of Corteva in the 2nd quarter worth $1,981,000. Private Asset Management Inc. purchased a new position in shares of Corteva in the 2nd quarter worth $654,000. Fulton Bank N.A. purchased a new position in shares of Corteva in the 2nd quarter worth $208,000. Finally, Summit Financial Group Inc. purchased a new position in shares of Corteva in the 2nd quarter worth $422,000.

In related news, Director Gregory R. Page acquired 2,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition was disclosed in a document filed with the SEC, which is available through this link.

A number of equities analysts have commented on the stock. Goldman Sachs Group assumed coverage on shares of Corteva in a research note on Monday, June 3rd. They issued a “neutral” rating and a $29.00 price objective for the company. Nomura began coverage on shares of Corteva in a report on Monday, June 10th. They issued a “neutral” rating and a $28.00 target price for the company. Deutsche Bank raised their target price on shares of Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group began coverage on shares of Corteva in a report on Tuesday, June 4th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Corteva in a report on Monday, June 3rd. They issued an “equal weight” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Corteva presently has a consensus rating of “Hold” and an average target price of $32.25.

Shares of Corteva stock traded down $1.24 during trading on Friday, hitting $29.05. The stock had a trading volume of 3,445,460 shares, compared to its average volume of 6,518,286. The company has a fifty day simple moving average of $29.10. Corteva has a 12 month low of $24.35 and a 12 month 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, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.43. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. The business’s revenue was down 3.1% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%.

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Institutional Ownership by Quarter for Corteva (NASDAQ:CTVA)

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