Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Zoetis Inc (NYSE:ZTS) by 14.9% during the 4th quarter, Holdings Channel reports. The firm owned 555,454 shares of the company’s stock after selling 97,299 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Zoetis were worth $47,514,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lavaca Capital LLC bought a new position in shares of Zoetis in the 4th quarter valued at about $32,000. Ledyard National Bank boosted its stake in shares of Zoetis by 393.3% in the 4th quarter. Ledyard National Bank now owns 587 shares of the company’s stock valued at $50,000 after purchasing an additional 468 shares during the last quarter. Truewealth LLC boosted its stake in shares of Zoetis by 65.5% in the 4th quarter. Truewealth LLC now owns 758 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Zoetis in the 4th quarter valued at about $75,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Zoetis in the 3rd quarter valued at about $112,000. 92.87% of the stock is currently owned by institutional investors.
Zoetis stock opened at $95.37 on Friday. Zoetis Inc has a fifty-two week low of $77.00 and a fifty-two week high of $96.57. The company has a market cap of $45.82 billion, a P/E ratio of 39.74, a PEG ratio of 1.62 and a beta of 0.88. The company has a debt-to-equity ratio of 3.04, a quick ratio of 2.63 and a current ratio of 4.06.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 14th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Zoetis had a net margin of 20.35% and a return on equity of 75.51%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.69 EPS. Zoetis’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that Zoetis Inc will post 3.11 EPS for the current fiscal year.
Zoetis declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, April 18th will be paid a $0.164 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, April 17th. Zoetis’s payout ratio is currently 27.50%.
In other Zoetis news, Director Willie M. Reed sold 3,205 shares of Zoetis stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $93.74, for a total value of $300,436.70. Following the transaction, the director now owns 566 shares of the company’s stock, valued at $53,056.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Roxanne Lagano sold 2,000 shares of Zoetis stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $85.30, for a total transaction of $170,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,455 shares of company stock worth $2,958,663. Insiders own 0.35% of the company’s stock.
Several research firms recently weighed in on ZTS. BMO Capital Markets reissued a “hold” rating on shares of Zoetis in a research note on Sunday, November 11th. Argus set a $105.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a research note on Tuesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Zoetis from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Morgan Stanley set a $100.00 price objective on shares of Zoetis and gave the stock a “hold” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research lowered shares of Zoetis from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Zoetis has an average rating of “Buy” and an average target price of $94.06.
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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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