Humankind Investments LLC Sells 3,858 Shares of Corteva, Inc. $CTVA

Key Points

• Humankind Investments LLC reduced its stake in Corteva, Inc. by 10.1%, now holding 34,415 shares valued at approximately $2,166,000.
• Research firms have raised their price targets for Corteva, with Citigroup setting a new target of $78.00 and a consensus rating of "Moderate Buy" among analysts.
• Corteva announced an increase in its quarterly dividend from $0.17 to $0.18 per share, reflecting a payout ratio of 33.17%.

Humankind Investments LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,415 shares of the company's stock after selling 3,858 shares during the period. Corteva comprises 0.6% of Humankind Investments LLC's holdings, making the stock its 27th largest position. Humankind Investments LLC's holdings in Corteva were worth $2,166,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new position in shares of Corteva during the 4th quarter worth about $27,000. Valley National Advisers Inc. boosted its stake in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after buying an additional 243 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $31,000. Richardson Capital Management LLC acquired a new position in shares of Corteva during the 1st quarter worth about $37,000. Finally, von Borstel & Associates Inc. acquired a new position in shares of Corteva during the 1st quarter worth about $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. KeyCorp increased their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley raised their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Barclays upgraded shares of Corteva from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.25.

Corteva Stock Performance

Corteva stock traded up $0.3350 during trading hours on Friday, hitting $73.3150. The company had a trading volume of 2,664,002 shares, compared to its average volume of 4,042,217. The firm has a market cap of $49.79 billion, a PE ratio of 35.76, a PEG ratio of 1.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The firm has a 50-day moving average of $73.42 and a 200 day moving average of $67.04.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business's revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's payout ratio is 33.17%.

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.