Burns J W & Co. Inc. NY boosted its position in Zoetis Inc (NYSE:ZTS) by 5.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,778 shares of the company’s stock after purchasing an additional 775 shares during the period. Burns J W & Co. Inc. NY’s holdings in Zoetis were worth $1,966,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. JJJ Advisors Inc. acquired a new stake in Zoetis during the 2nd quarter worth approximately $25,000. Prestige Wealth Management Group LLC acquired a new stake in Zoetis during the 2nd quarter worth approximately $27,000. Altshuler Shaham Ltd increased its position in Zoetis by 198.8% during the 2nd quarter. Altshuler Shaham Ltd now owns 254 shares of the company’s stock worth $29,000 after purchasing an additional 169 shares in the last quarter. Next Capital Management LLC increased its position in Zoetis by 156.5% during the 2nd quarter. Next Capital Management LLC now owns 295 shares of the company’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. Finally, Destination Wealth Management increased its position in Zoetis by 217.9% during the 2nd quarter. Destination Wealth Management now owns 337 shares of the company’s stock worth $38,000 after purchasing an additional 231 shares in the last quarter. 90.09% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on ZTS. SunTrust Banks increased their target price on shares of Zoetis from $120.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley upped their price target on Zoetis from $100.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Barclays upped their price target on Zoetis from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Craig Hallum upped their price target on Zoetis from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, ValuEngine cut Zoetis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $123.19.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Zoetis had a return on equity of 72.86% and a net margin of 22.74%. Zoetis’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. As a group, sell-side analysts expect that Zoetis Inc will post 3.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.164 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, October 21st. Zoetis’s dividend payout ratio (DPR) is currently 21.09%.
In other news, insider Clinton A. Jr. Lewis sold 6,123 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $113.09, for a total transaction of $692,450.07. Following the completion of the transaction, the insider now directly owns 46,812 shares in the company, valued at approximately $5,293,969.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Roxanne Lagano sold 4,463 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.99, for a total value of $562,293.37. Following the transaction, the executive vice president now owns 33,190 shares of the company’s stock, valued at $4,181,608.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,332 shares of company stock valued at $4,163,091. Company insiders own 0.29% of the company’s stock.
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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