Hsbc Holdings PLC Has $106.09 Million Stock Position in Corteva, Inc. $CTVA

Key Points

• HSBC Holdings PLC cut its Corteva stake by 6.4% in the first quarter, selling 86,290 shares and ending with 1,268,478 shares valued at about $106.1 million.
• Corteva reported strong quarterly results, with EPS of $1.50 beating estimates of $1.18 and revenue of $4.91 billion topping expectations; revenue also rose 11% year over year.
• Analysts remain positive overall, with a Moderate Buy consensus and an average price target of $88.95, while recent upgrades from firms like Morgan Stanley, Wells Fargo, and Zacks Research boosted sentiment.

Hsbc Holdings PLC lowered its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,268,478 shares of the company's stock after selling 86,290 shares during the period. Hsbc Holdings PLC owned 0.19% of Corteva worth $106,087,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Woodline Partners LP increased its stake in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company's stock worth $3,645,000 after purchasing an additional 16,644 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Corteva by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company's stock valued at $191,000 after purchasing an additional 980 shares during the period. Cresset Asset Management LLC lifted its stake in Corteva by 2.6% in the 2nd quarter. Cresset Asset Management LLC now owns 7,063 shares of the company's stock valued at $526,000 after purchasing an additional 181 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Corteva in the 2nd quarter valued at about $1,464,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Performance

NYSE:CTVA opened at $87.42 on Monday. The stock has a market cap of $58.47 billion, a P/E ratio of 51.43, a PEG ratio of 2.67 and a beta of 0.56. The stock has a 50 day simple moving average of $80.86 and a 200 day simple moving average of $78.26. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $88.22.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $1.13 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Corteva's payout ratio is presently 42.35%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price target on Corteva from $84.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Citigroup raised their price objective on Corteva from $83.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Zacks Research upgraded Corteva from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Wells Fargo & Company boosted their target price on Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Finally, Argus increased their price target on Corteva from $80.00 to $91.00 and gave the company a "buy" rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.95.

Corteva Company Profile

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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