Franklin Resources Inc. lowered its position in Zoetis Inc (NYSE:ZTS) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 469,950 shares of the company’s stock after selling 20,311 shares during the period. Franklin Resources Inc. owned 0.10% of Zoetis worth $33,855,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearbridge Investments LLC lifted its position in shares of Zoetis by 3.9% in the 4th quarter. Clearbridge Investments LLC now owns 9,512,060 shares of the company’s stock worth $685,249,000 after purchasing an additional 353,622 shares during the period. Advisor Group Inc. lifted its position in shares of Zoetis by 11.7% in the 4th quarter. Advisor Group Inc. now owns 29,940 shares of the company’s stock worth $2,157,000 after purchasing an additional 3,131 shares during the period. Sands Capital Management LLC lifted its position in shares of Zoetis by 435.9% in the 4th quarter. Sands Capital Management LLC now owns 128,389 shares of the company’s stock worth $9,249,000 after purchasing an additional 104,430 shares during the period. Fred Alger Management Inc. acquired a new position in shares of Zoetis in the 4th quarter worth approximately $5,582,000. Finally, Folger Hill Asset Management LP acquired a new position in shares of Zoetis in the 4th quarter worth approximately $2,370,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.
In other Zoetis news, EVP Roxanne Lagano sold 35,663 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.02, for a total transaction of $2,889,416.26. Following the transaction, the executive vice president now owns 49,919 shares in the company, valued at $4,044,437.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heidi C. Chen sold 37,453 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $81.02, for a total transaction of $3,034,442.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,952 shares of company stock worth $9,219,843. Corporate insiders own 0.31% of the company’s stock.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Zoetis had a net margin of 16.28% and a return on equity of 65.96%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. equities analysts forecast that Zoetis Inc will post 3.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, April 20th will be issued a dividend of $0.126 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.50 annualized dividend and a yield of 0.60%. Zoetis’s payout ratio is 28.57%.
A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Thursday, January 4th. BMO Capital Markets restated a “hold” rating on shares of Zoetis in a research report on Monday, January 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $86.00 target price on shares of Zoetis in a research report on Thursday, January 18th. Jefferies Group set a $97.00 target price on shares of Zoetis and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, UBS reiterated a “neutral” rating on shares of Zoetis in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $79.72.
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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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