Coastal Investment Advisors Inc. grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 62.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,715 shares of the company’s stock after acquiring an additional 1,432 shares during the period. Coastal Investment Advisors Inc.’s holdings in Zoetis were worth $615,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jeppson Wealth Management LLC acquired a new position in shares of Zoetis during the third quarter valued at about $25,000. Demars Financial Group LLC acquired a new position in shares of Zoetis during the second quarter valued at about $30,000. Arlington Partners LLC acquired a new position in shares of Zoetis during the fourth quarter valued at about $32,000. Newfound Research LLC purchased a new position in Zoetis during the third quarter worth about $34,000. Finally, Crewe Advisors LLC grew its position in Zoetis by 533.3% in the 3rd quarter. Crewe Advisors LLC now owns 209 shares of the company’s stock worth $35,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.
Several research firms recently commented on ZTS. Morgan Stanley raised their price objective on shares of Zoetis from $167.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, November 13th. Barclays raised their price objective on shares of Zoetis from $175.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. BidaskClub raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Thursday, December 31st. Truist raised their price target on shares of Zoetis from $160.00 to $170.00 in a report on Thursday, November 12th. Finally, Atlantic Securities started coverage on shares of Zoetis in a report on Monday, September 21st. They issued an “overweight” rating and a $191.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $161.14.
Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, November 5th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Zoetis had a net margin of 25.50% and a return on equity of 63.89%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, analysts predict that Zoetis Inc. will post 3.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Wednesday, January 20th will be given a $0.25 dividend. This is a boost from Zoetis’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, January 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. Zoetis’s payout ratio is presently 21.98%.
In other news, EVP Roxanne Lagano sold 6,000 shares of Zoetis stock in a transaction dated Thursday, November 19th. The shares were sold at an average price of $164.06, for a total transaction of $984,360.00. Following the sale, the executive vice president now owns 41,680 shares of the company’s stock, valued at approximately $6,838,020.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heidi C. Chen sold 1,179 shares of Zoetis stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $161.43, for a total transaction of $190,325.97. Following the sale, the executive vice president now directly owns 17,514 shares in the company, valued at approximately $2,827,285.02. The disclosure for this sale can be found here. Insiders sold 110,606 shares of company stock worth $18,241,735 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
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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