Bright Rock Capital Management LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 75,000 shares of the company’s stock, valued at approximately $4,679,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ZTS. Assetmark Inc. boosted its position in shares of Zoetis by 4.6% in the first quarter. Assetmark Inc. now owns 1,918 shares of the company’s stock worth $102,000 after buying an additional 85 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock worth $102,000 after buying an additional 13 shares during the period. Point72 Asia Hong Kong Ltd bought a new position in shares of Zoetis during the first quarter worth about $111,000. Advisory Services Network LLC bought a new position in shares of Zoetis during the first quarter worth about $112,000. Finally, First Interstate Bank boosted its position in shares of Zoetis by 3.5% in the first quarter. First Interstate Bank now owns 2,250 shares of the company’s stock worth $120,000 after buying an additional 76 shares during the period. 94.51% of the stock is owned by institutional investors.
Shares of Zoetis Inc. (ZTS) opened at 60.81 on Thursday. The firm has a market cap of $29.85 billion, a price-to-earnings ratio of 35.35 and a beta of 1.02. The company’s 50-day moving average is $62.40 and its 200-day moving average is $57.94. Zoetis Inc. has a 12 month low of $46.86 and a 12 month high of $63.85.
Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. Zoetis had a net margin of 17.50% and a return on equity of 64.16%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Zoetis Inc. will post $2.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, June 15th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, June 13th. Zoetis’s payout ratio is 23.73%.
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ZTS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Wednesday, May 10th. Jefferies Group LLC increased their target price on shares of Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zoetis in a report on Thursday, May 4th. Argus reaffirmed a “buy” rating and issued a $69.00 target price (up from $60.00) on shares of Zoetis in a report on Tuesday, May 30th. Finally, CL King initiated coverage on shares of Zoetis in a report on Friday, May 26th. They issued a “buy” rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.78.
In other news, insider Catherine A. Knupp sold 5,785 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $60.16, for a total value of $348,025.60. Following the completion of the sale, the insider now directly owns 24,415 shares in the company, valued at $1,468,806.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by 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 business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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