1ST Source Bank lowered its position in shares of Zoetis Inc. (NYSE:ZTS) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,823 shares of the company’s stock after selling 68 shares during the period. 1ST Source Bank’s holdings in Zoetis were worth $229,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Zoetis by 398.6% in the first quarter. Renaissance Technologies LLC now owns 1,413,100 shares of the company’s stock worth $62,643,000 after buying an additional 1,129,700 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in Zoetis during the first quarter worth about $49,823,000. Bank of Montreal Can purchased a new stake in Zoetis during the second quarter worth about $28,606,000. Lazard Asset Management LLC boosted its stake in Zoetis by 2.7% in the first quarter. Lazard Asset Management LLC now owns 18,464,624 shares of the company’s stock worth $818,534,000 after buying an additional 478,750 shares during the last quarter. Finally, HBK Investments L P boosted its stake in Zoetis by 112.7% in the first quarter. HBK Investments L P now owns 573,894 shares of the company’s stock worth $25,441,000 after buying an additional 304,026 shares during the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.
Zoetis Inc. (NYSE:ZTS) traded up 1.90% during midday trading on Tuesday, hitting $50.98. The stock had a trading volume of 743,288 shares. The company’s 50 day moving average is $51.23 and its 200 day moving average is $49.13. Zoetis Inc. has a 1-year low of $38.26 and a 1-year high of $53.14. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 39.70 and a beta of 1.00.
Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. Zoetis’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts anticipate that Zoetis Inc. will post $1.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 1st. Zoetis’s payout ratio is 29.69%.
A number of analysts recently issued reports on ZTS shares. Jefferies Group reissued a “buy” rating and set a $60.00 price objective on shares of Zoetis in a research report on Tuesday, August 23rd. Zacks Investment Research cut Zoetis from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Guggenheim reaffirmed a “positive” rating and issued a $60.00 price target on shares of Zoetis in a research report on Monday, August 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 price target on shares of Zoetis in a research report on Wednesday, October 12th. Finally, Barclays PLC boosted their price target on Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Zoetis currently has a consensus rating of “Buy” and an average target price of $55.50.
In related news, insider Andrew Fenton sold 13,870 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $51.25, for a total value of $710,837.50. Following the completion of the sale, the insider now directly owns 17,719 shares in the company, valued at approximately $908,098.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heidi C. Chen sold 32,097 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $50.98, for a total transaction of $1,636,305.06. Following the completion of the sale, the insider now owns 46,060 shares of the company’s stock, valued at $2,348,138.80. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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