Hsbc Holdings PLC Has $72.91 Million Stock Position in Corteva, Inc. $CTVA

Hsbc Holdings PLC lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,161,848 shares of the company’s stock after selling 232,110 shares during the period. Hsbc Holdings PLC owned 0.17% of Corteva worth $72,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. bought a new stake in Corteva during the fourth quarter worth $27,000. Valley National Advisers Inc. increased its stake in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after purchasing an additional 243 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $31,000. Richardson Capital Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at about $37,000. Finally, von Borstel & Associates Inc. acquired a new stake in Corteva in the 1st quarter valued at about $44,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $72.8220 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 1.66 and a beta of 0.75. The stock’s fifty day moving average price is $73.39 and its two-hundred day moving average price is $66.93. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. On average, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is currently 33.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTVA. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research report on Friday, June 6th. BMO Capital Markets boosted their target price on Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Morgan Stanley increased their price objective on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.