Hsbc Holdings PLC Grows Position in Corteva, Inc. (NYSE:CTVA)

Hsbc Holdings PLC grew its stake in Corteva, Inc. (NYSE:CTVA) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312,347 shares of the company’s stock after buying an additional 150,029 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Corteva worth $70,902,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new position in Corteva in the 1st quarter worth $25,000. Acadian Asset Management LLC bought a new position in shares of Corteva in the first quarter worth about $25,000. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. Albion Financial Group UT raised its stake in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its holdings in Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CTVA shares. Mizuho reduced their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Finally, Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $61.67.

Corteva Price Performance

Corteva stock opened at $58.60 on Friday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.92. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $54.59 and a 200-day moving average price of $54.73. The firm has a market capitalization of $40.84 billion, a PE ratio of 74.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

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.