SunTrust Banks initiated coverage on shares of Zoetis (NYSE:ZTS) in a research report report published on Tuesday, Marketbeat reports. The firm issued a hold rating and a $100.00 target price on the stock. SunTrust Banks also issued estimates for Zoetis’ Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.82 EPS, Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $0.92 EPS, FY2019 earnings at $3.45 EPS, FY2020 earnings at $3.86 EPS, FY2021 earnings at $4.29 EPS, FY2022 earnings at $4.72 EPS and FY2023 earnings at $5.22 EPS.
Several other equities analysts have also recently commented on ZTS. Stifel Nicolaus raised shares of Zoetis from a hold rating to a buy rating and raised their price target for the company from $97.00 to $110.00 in a research report on Monday, March 4th. BMO Capital Markets raised their price target on shares of Zoetis from $93.00 to $101.00 and gave the company a market perform rating in a research report on Monday, February 25th. Zacks Investment Research raised shares of Zoetis from a sell rating to a hold rating in a research report on Saturday, February 16th. Finally, UBS Group initiated coverage on shares of Zoetis in a research report on Wednesday, January 23rd. They issued a neutral rating and a $86.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $98.93.
Zoetis stock opened at $99.64 on Tuesday. Zoetis has a fifty-two week low of $77.00 and a fifty-two week high of $99.91. The company has a debt-to-equity ratio of 2.95, a current ratio of 3.60 and a quick ratio of 2.46. The company has a market capitalization of $47.16 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.79 and a beta of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, April 18th will be given a dividend of $0.164 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. Zoetis’s dividend payout ratio (DPR) is currently 21.09%.
Zoetis announced that its board has initiated a stock buyback program on Wednesday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other news, insider Catherine A. Knupp sold 32,767 shares of Zoetis stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $95.80, for a total transaction of $3,139,078.60. Following the completion of the sale, the insider now directly owns 82,820 shares of the company’s stock, valued at approximately $7,934,156. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Juan Ramon Alaix sold 312,109 shares of Zoetis stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $94.06, for a total transaction of $29,356,972.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 412,334 shares of company stock valued at $38,711,680. Corporate insiders own 0.35% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ZTS. Oregon Public Employees Retirement Fund lifted its position in shares of Zoetis by 9,042.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,335,563 shares of the company’s stock worth $168,000 after purchasing an additional 14,178,765 shares during the last quarter. FMR LLC lifted its position in Zoetis by 209.7% in the fourth quarter. FMR LLC now owns 7,245,748 shares of the company’s stock valued at $619,801,000 after acquiring an additional 4,905,887 shares during the last quarter. Norges Bank purchased a new stake in Zoetis in the fourth quarter valued at $404,080,000. Marshall Wace LLP lifted its position in Zoetis by 76.4% in the third quarter. Marshall Wace LLP now owns 3,216,573 shares of the company’s stock valued at $294,509,000 after acquiring an additional 1,393,397 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Zoetis by 206.5% in the third quarter. Renaissance Technologies LLC now owns 2,062,100 shares of the company’s stock valued at $188,806,000 after acquiring an additional 1,389,300 shares during the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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