Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,918 shares of the company’s stock after buying an additional 468 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Zoetis were worth $10,484,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Zoetis by 398.6% in the first quarter. Renaissance Technologies LLC now owns 1,413,100 shares of the company’s stock valued at $62,643,000 after buying an additional 1,129,700 shares during the period. Cullen Frost Bankers Inc. raised its position in Zoetis by 0.7% in the second quarter. Cullen Frost Bankers Inc. now owns 347,368 shares of the company’s stock valued at $16,486,000 after buying an additional 2,470 shares during the period. Legal & General Group Plc raised its position in Zoetis by 0.9% in the first quarter. Legal & General Group Plc now owns 2,104,616 shares of the company’s stock valued at $93,293,000 after buying an additional 18,063 shares during the period. York Capital Management Global Advisors LLC acquired a new position in Zoetis during the first quarter valued at $49,823,000. Finally, Raymond James Trust N.A. raised its position in Zoetis by 5.0% in the second quarter. Raymond James Trust N.A. now owns 5,909 shares of the company’s stock valued at $281,000 after buying an additional 281 shares during the period. Institutional investors own 93.14% of the company’s stock.
Zoetis Inc. (NYSE:ZTS) traded down 0.30% during mid-day trading on Monday, reaching $50.03. 2,644,607 shares of the company’s stock traded hands. The stock has a market cap of $24.77 billion, a P/E ratio of 38.96 and a beta of 1.00. The firm has a 50-day moving average price of $51.25 and a 200-day moving average price of $49.01. Zoetis Inc. has a 1-year low of $38.26 and a 1-year high of $53.14.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. Zoetis’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Equities research analysts anticipate that Zoetis Inc. will post $1.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 3rd will be given a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.76%. Zoetis’s dividend payout ratio is 29.69%.
Several research firms have recently weighed in on ZTS. Jefferies Group reissued a “buy” rating and issued a $60.00 target price on shares of Zoetis in a research report on Wednesday, September 14th. Zacks Investment Research downgraded shares of Zoetis from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America Corp. began coverage on shares of Zoetis in a research report on Thursday, September 29th. They issued a “buy” rating and a $60.00 target price on the stock. Guggenheim reissued a “positive” rating and issued a $60.00 target price on shares of Zoetis in a research report on Monday, August 22nd. Finally, Citigroup Inc. lifted their target price on shares of Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $55.50.
In other Zoetis news, insider Heidi C. Chen sold 32,097 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 46,060 shares in the company, valued at approximately $2,348,138.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Fenton sold 13,870 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $51.25, for a total transaction of $710,837.50. Following the sale, the insider now owns 17,719 shares in the company, valued at $908,098.75. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Zoetis Company Profile
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.
Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS).
Receive News & Ratings for Zoetis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoetis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.