Zoetis Inc. (NYSE:ZTS)’s share price hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $53.14 and last traded at $52.79, with a volume of 2,043,287 shares trading hands. The stock had previously closed at $51.85.
The newly announced dividend which will be paid on Thursday, December 1st. Investors of record on Thursday, November 3rd will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 1st. Zoetis’s payout ratio is 29.69%.
A number of equities analysts recently issued reports on the stock. Guggenheim reissued a “positive” rating and issued a $60.00 price objective on shares of Zoetis in a report on Monday, August 22nd. Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Bank of America Corp. assumed coverage on shares of Zoetis in a research note on Thursday, September 29th. They set a “buy” rating and a $60.00 target price on the stock. Argus raised their target price on shares of Zoetis from $54.00 to $58.00 and gave the stock a “below average” rating in a research note on Friday, September 9th. Finally, Credit Suisse Group AG restated a “focus list” rating and set a $60.00 target price on shares of Zoetis in a research note on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Zoetis currently has an average rating of “Buy” and an average target price of $55.27.
The stock’s 50 day moving average price is $51.24 and its 200-day moving average price is $48.92. The firm has a market cap of $25.23 billion, a P/E ratio of 39.69 and a beta of 1.00.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The company earned $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $0.43 EPS. Zoetis’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts forecast that Zoetis Inc. will post $1.91 EPS for the current year.
In other news, Director Michael B. Mccallister bought 2,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was purchased at an average cost of $51.34 per share, with a total value of $102,680.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Fenton sold 13,870 shares of Zoetis stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $51.25, for a total transaction of $710,837.50. Following the transaction, the insider now directly owns 17,719 shares of the company’s stock, valued at $908,098.75. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Zoetis by 6.5% in the second quarter. Vanguard Group Inc. now owns 29,819,968 shares of the company’s stock valued at $1,415,256,000 after buying an additional 1,812,428 shares during the period. Lazard Asset Management LLC raised its position in Zoetis by 2.7% in the first quarter. Lazard Asset Management LLC now owns 18,464,624 shares of the company’s stock valued at $818,534,000 after buying an additional 478,750 shares during the period. Independent Franchise Partners LLP raised its position in Zoetis by 1.7% in the second quarter. Independent Franchise Partners LLP now owns 11,183,747 shares of the company’s stock valued at $530,780,000 after buying an additional 188,259 shares during the period. Principal Financial Group Inc. raised its position in Zoetis by 0.9% in the second quarter. Principal Financial Group Inc. now owns 9,890,168 shares of the company’s stock valued at $469,388,000 after buying an additional 92,034 shares during the period. Finally, Marshall Wace LLP raised its position in Zoetis by 1.9% in the second quarter. Marshall Wace LLP now owns 9,159,978 shares of the company’s stock valued at $434,733,000 after buying an additional 173,902 shares during the period. 93.12% of the stock is owned by hedge funds and other institutional investors.
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.
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