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

Hsbc Holdings PLC reduced its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,393,958 shares of the company's stock after selling 6,472 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Corteva worth $79,243,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its holdings in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock worth $759,000 after purchasing an additional 156 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after acquiring an additional 158 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after acquiring an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of CTVA stock traded up $0.18 on Tuesday, reaching $61.74. The company's stock had a trading volume of 473,079 shares, compared to its average volume of 3,310,419. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a market capitalization of $42.17 billion, a price-to-earnings ratio of 47.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The stock's fifty day simple moving average is $60.67 and its 200-day simple moving average is $60.47. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CTVA shares. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a report on Monday, March 31st. Royal Bank of Canada raised their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp increased their price objective on shares of Corteva from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Oppenheimer lifted their target price on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Barclays raised their price objective on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.13.

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.