World Asset Management Inc reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,147 shares of the company’s stock after selling 874 shares during the quarter. World Asset Management Inc’s holdings in Zoetis were worth $1,776,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Amundi acquired a new stake in shares of Zoetis in the second quarter valued at $321,789,000. Macquarie Group Ltd. increased its position in Zoetis by 641.7% in the second quarter. Macquarie Group Ltd. now owns 1,465,375 shares of the company’s stock worth $273,087,000 after purchasing an additional 1,267,799 shares during the period. Lord Abbett & CO. LLC increased its position in Zoetis by 387.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,417,899 shares of the company’s stock worth $264,240,000 after purchasing an additional 1,127,067 shares during the period. 1832 Asset Management L.P. increased its position in Zoetis by 697.9% in the second quarter. 1832 Asset Management L.P. now owns 1,225,267 shares of the company’s stock worth $229,952,000 after purchasing an additional 1,071,708 shares during the period. Finally, Nordea Investment Management AB increased its position in Zoetis by 104.0% in the third quarter. Nordea Investment Management AB now owns 2,101,524 shares of the company’s stock worth $414,190,000 after purchasing an additional 1,071,471 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on Zoetis from $184.00 to $232.00 and gave the company a “neutral” rating in a research report on Monday, December 20th. Morgan Stanley initiated coverage on Zoetis in a research report on Thursday, November 18th. They set an “overweight” rating and a $264.00 price target on the stock. Barclays boosted their target price on Zoetis from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Zoetis from a “buy” rating to a “hold” rating and set a $242.00 target price on the stock. in a report on Saturday, January 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Zoetis has an average rating of “Buy” and a consensus price target of $222.70.
Zoetis stock traded down $1.58 during trading on Friday, hitting $205.42. The stock had a trading volume of 4,085 shares, compared to its average volume of 2,979,377. The stock’s 50 day moving average is $226.28 and its two-hundred day moving average is $210.49. Zoetis Inc. has a 1 year low of $141.41 and a 1 year high of $249.27. The stock has a market cap of $97.19 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 2.94 and a beta of 0.67. The company has a quick ratio of 3.27, a current ratio of 4.54 and a debt-to-equity ratio of 1.41.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, November 4th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.15. Zoetis had a return on equity of 52.17% and a net margin of 26.02%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Zoetis Inc. will post 4.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Thursday, January 20th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 0.63%. This is a positive change from Zoetis’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 19th. Zoetis’s payout ratio is currently 24.10%.
In other news, CEO Kristin C. Peck sold 14,500 shares of the business’s stock in a transaction that occurred on Friday, November 26th. The shares were sold at an average price of $223.10, for a total value of $3,234,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roxanne Lagano sold 1,315 shares of the firm’s stock in a transaction dated Thursday, December 23rd. The shares were sold at an average price of $241.70, for a total value of $317,835.50. The disclosure for this sale can be found here. Insiders sold 41,837 shares of company stock valued at $9,155,881 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.
Zoetis, Inc discovers, develops, and manufactures a portfolio of animal health medicines and vaccines. The firm operates through the following segments: United States &International. Its products are complemented by diagnostic products, genetic tests, bio devices, and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal.
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