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

Hsbc Holdings PLC lowered its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,393,958 shares of the company's stock after selling 6,472 shares during the period. Hsbc Holdings PLC owned 0.20% of Corteva worth $79,243,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after acquiring an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. increased its stake in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors raised its holdings in Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Corteva by 2.4% during the 4th quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock worth $630,811,000 after buying an additional 264,531 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Corteva Price Performance

Shares of CTVA stock traded up $0.19 during trading hours on Monday, hitting $61.66. The company's stock had a trading volume of 2,252,861 shares, compared to its average volume of 3,567,983. 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, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market cap of $42.11 billion, a price-to-earnings ratio of 47.80, a P/E/G ratio of 1.68 and a beta of 0.73. The business has a fifty day moving average of $60.71 and a 200-day moving average of $60.44.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CTVA shares. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Finally, KeyCorp lifted their price objective on shares of Corteva from $70.00 to $71.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. One 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $68.13.

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.