TIAA CREF Investment Management LLC boosted its position in Zoetis Inc (NYSE:ZTS) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 5,648,528 shares of the company’s stock after purchasing an additional 73,767 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Zoetis were worth $406,920,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Zoetis by 16.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 36,268 shares of the company’s stock valued at $2,313,000 after buying an additional 5,227 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Zoetis by 8.6% in the third quarter. Daiwa Securities Group Inc. now owns 16,131 shares of the company’s stock valued at $1,029,000 after buying an additional 1,281 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Zoetis by 8.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 51,163 shares of the company’s stock valued at $3,262,000 after buying an additional 3,943 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Zoetis in the third quarter valued at about $459,000. Finally, Global X MANAGEMENT CO LLC increased its stake in shares of Zoetis by 12.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 11,618 shares of the company’s stock valued at $741,000 after buying an additional 1,278 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.
ZTS has been the subject of several recent research reports. Cowen set a $80.00 price target on Zoetis and gave the company a “buy” rating in a research note on Friday, November 17th. Morgan Stanley raised Zoetis from an “equal weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Wednesday, November 29th. Cantor Fitzgerald set a $85.00 price target on Zoetis and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup raised Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, January 4th. Finally, UBS Group reissued a “neutral” rating on shares of Zoetis in a research note on Friday, November 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.28.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, February 15th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Zoetis had a return on equity of 65.96% and a net margin of 16.28%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. analysts forecast that Zoetis Inc will post 3.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, April 20th will be issued a $0.126 dividend. The ex-dividend date is Thursday, April 19th. This represents a $0.50 annualized dividend and a yield of 0.60%. Zoetis’s payout ratio is currently 28.57%.
In other Zoetis news, insider Heidi C. Chen sold 37,453 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $81.02, for a total value of $3,034,442.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 35,663 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $81.02, for a total value of $2,889,416.26. Following the completion of the transaction, the executive vice president now owns 49,919 shares in the company, valued at approximately $4,044,437.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,569 shares of company stock worth $8,594,429. Corporate insiders own 0.31% of the company’s stock.
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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 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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