Hsbc Holdings PLC Trims Holdings in Corteva, Inc. $CTVA

Hsbc Holdings PLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,571 shares of the company’s stock after selling 60,277 shares during the period. Hsbc Holdings PLC’s holdings in Corteva were worth $82,092,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CTVA. Moody National Bank Trust Division boosted its position in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after acquiring an additional 143 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of Corteva by 0.8% in the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after purchasing an additional 150 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Corteva by 2.2% during the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC increased its holdings in Corteva by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after purchasing an additional 152 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in Corteva by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Thursday, October 2nd. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Trading Up 1.2%

Shares of CTVA stock opened at $67.47 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a market capitalization of $45.59 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. The stock has a fifty day moving average of $64.47 and a two-hundred day moving average of $69.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.49) earnings per share. As a group, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

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

About Corteva

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.