Canandaigua National Bank & Trust Co. purchased a new position in Zoetis (NYSE:ZTS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,072 shares of the company’s stock, valued at approximately $2,344,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Robecosam AG lifted its position in shares of Zoetis by 4.6% in the 4th quarter. Robecosam AG now owns 15,346 shares of the company’s stock worth $1,111,000 after purchasing an additional 679 shares during the period. Wealthfront Inc. lifted its position in Zoetis by 4.4% during the first quarter. Wealthfront Inc. now owns 16,352 shares of the company’s stock valued at $1,366,000 after acquiring an additional 688 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Zoetis by 4.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 16,828 shares of the company’s stock valued at $1,212,000 after acquiring an additional 697 shares during the last quarter. Sandy Spring Bank lifted its position in Zoetis by 2.3% during the fourth quarter. Sandy Spring Bank now owns 31,018 shares of the company’s stock valued at $2,235,000 after acquiring an additional 708 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in Zoetis by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 4,550 shares of the company’s stock valued at $327,000 after acquiring an additional 715 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on ZTS shares. Bank of America increased their target price on shares of Zoetis from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Morgan Stanley cut shares of Zoetis from an “overweight” rating to an “equal weight” rating and set a $70.00 target price for the company. in a research report on Monday, March 19th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and set a $86.00 target price (up previously from $84.00) on shares of Zoetis in a research report on Friday, February 16th. Barclays set a $77.00 target price on shares of Zoetis and gave the company a “hold” rating in a research report on Saturday, February 17th. Finally, BMO Capital Markets set a $78.00 target price on shares of Zoetis and gave the company a “hold” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $82.67.
In other Zoetis news, EVP Roxanne Lagano sold 35,663 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.02, for a total value of $2,889,416.26. Following the completion of the transaction, the executive vice president now owns 49,919 shares of the company’s stock, valued at $4,044,437.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kristin C. Peck sold 4,877 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $83.46, for a total transaction of $407,034.42. Following the completion of the transaction, the insider now directly owns 42,652 shares of the company’s stock, valued at approximately $3,559,735.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,829 shares of company stock valued at $9,626,877. Corporate insiders own 0.35% of the company’s stock.
NYSE ZTS opened at $84.40 on Monday. The firm has a market capitalization of $40.84 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 1.86 and a beta of 0.97. Zoetis has a 12-month low of $59.50 and a 12-month high of $86.38. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.27 and a quick ratio of 2.83.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Zoetis had a net margin of 17.97% and a return on equity of 68.51%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. equities analysts anticipate that Zoetis will post 3.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, July 20th will be issued a $0.126 dividend. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.60%. Zoetis’s dividend payout ratio is currently 20.83%.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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