Bank of Hawaii grew its holdings in Corteva (NYSE:CTVA) by 214.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,319 shares of the company’s stock after acquiring an additional 14,549 shares during the quarter. Bank of Hawaii’s holdings in Corteva were worth $597,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. Vanguard Group Inc. purchased a new position in shares of Corteva in the 2nd quarter valued at about $1,803,496,000. BlackRock Inc. purchased a new position in shares of Corteva in the 2nd quarter valued at about $1,728,215,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Corteva in the 2nd quarter valued at about $579,764,000. Nuveen Asset Management LLC purchased a new position in shares of Corteva in the 2nd quarter valued at about $429,256,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Corteva in the 2nd quarter valued at about $404,071,000. Institutional investors and hedge funds own 74.70% of the company’s stock.
In related news, SVP Cornel B. Fuerer acquired 2,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $26.13 per share, with a total value of $52,260.00. Also, EVP Timothy P. Glenn acquired 5,150 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $26.13 per share, with a total value of $134,569.50. Insiders have acquired a total of 15,975 shares of company stock valued at $414,277 over the last ninety days.
Shares of NYSE CTVA opened at $26.02 on Friday. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78. The firm has a 50-day moving average price of $26.13.
Corteva (NYSE:CTVA) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.97 billion. Corteva’s revenue was down 1.8% on a year-over-year basis. Research analysts anticipate that Corteva will post 1.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%.
A number of research firms have recently commented on CTVA. JPMorgan Chase & Co. downgraded Corteva from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $27.00 in a report on Friday, November 1st. Barclays set a $32.00 target price on Corteva and gave the company a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada raised Corteva from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $29.00 to $38.00 in a research report on Friday, August 9th. Redburn Partners started coverage on Corteva in a research report on Tuesday, November 12th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised Corteva from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.50.
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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