Strategic Investment Advisors MI bought a new position in Zoetis Inc. (NYSE:ZTS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,022 shares of the company’s stock, valued at approximately $500,000.
A number of other hedge funds also recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Zoetis by 3.0% during the 3rd quarter. Sei Investments Co. now owns 434,758 shares of the company’s stock valued at $71,757,000 after acquiring an additional 12,841 shares during the period. First Allied Advisory Services Inc. boosted its stake in Zoetis by 9.9% in the third quarter. First Allied Advisory Services Inc. now owns 6,178 shares of the company’s stock worth $1,022,000 after purchasing an additional 556 shares in the last quarter. Brinker Capital Investments LLC acquired a new position in Zoetis in the third quarter worth $7,325,000. Cetera Advisors LLC boosted its stake in Zoetis by 29.7% in the third quarter. Cetera Advisors LLC now owns 5,572 shares of the company’s stock worth $921,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Zoetis by 6.6% in the third quarter. Daiwa Securities Group Inc. now owns 23,949 shares of the company’s stock worth $3,960,000 after purchasing an additional 1,483 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.
In other news, EVP Heidi C. Chen sold 1,179 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $161.43, for a total transaction of $190,325.97. Following the completion of the transaction, the executive vice president now directly owns 17,514 shares of the company’s stock, valued at $2,827,285.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heidi C. Chen sold 1,180 shares of the company’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $161.64, for a total value of $190,735.20. Following the transaction, the executive vice president now directly owns 17,515 shares of the company’s stock, valued at $2,831,124.60. The disclosure for this sale can be found here. Insiders sold 110,606 shares of company stock valued at $18,241,735 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. Zoetis had a return on equity of 63.89% and a net margin of 25.50%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, sell-side analysts predict that Zoetis Inc. will post 3.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Wednesday, January 20th will be issued a $0.25 dividend. This is an increase from Zoetis’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, January 19th. Zoetis’s dividend payout ratio is 21.98%.
ZTS has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Zoetis from $175.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Morgan Stanley boosted their target price on Zoetis from $167.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, November 13th. Atlantic Securities started coverage on Zoetis in a research report on Monday, September 21st. They set an “overweight” rating and a $191.00 target price for the company. BidaskClub upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Thursday, December 31st. Finally, Truist boosted their target price on Zoetis from $160.00 to $170.00 in a research report on Thursday, November 12th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $161.14.
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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