Corteva, Inc. $CTVA Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,101,571 shares of the company’s stock after selling 60,277 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Corteva worth $82,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladwyn Financial Advisors Inc. purchased a new position in shares of Corteva during the 2nd quarter worth approximately $25,000. Curat Global LLC raised its position in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva during the second quarter worth $29,000. Princeton Global Asset Management LLC lifted its stake in Corteva by 61.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Morgan Stanley set a $84.00 price target on shares of Corteva in a research note on Monday, September 15th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, BMO Capital Markets set a $86.00 price target on shares of Corteva in a research note on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Stock Performance

NYSE CTVA opened at $67.47 on Friday. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.53 and a beta of 0.81. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The business’s 50 day moving average is $64.47 and its two-hundred day moving average is $69.68. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the firm posted ($0.49) EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

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.