Manchester Capital Management LLC lifted its stake in shares of Zoetis Inc (NYSE:ZTS) by 53.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,000 shares of the company’s stock after acquiring an additional 347 shares during the period. Manchester Capital Management LLC’s holdings in Zoetis were worth $101,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ZTS. Louisiana State Employees Retirement System boosted its position in Zoetis by 0.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the company’s stock worth $2,547,000 after buying an additional 100 shares during the period. Abbrea Capital LLC lifted its position in shares of Zoetis by 2.9% in the 1st quarter. Abbrea Capital LLC now owns 3,530 shares of the company’s stock worth $355,000 after purchasing an additional 100 shares during the period. Eukles Asset Management lifted its position in shares of Zoetis by 0.7% in the 1st quarter. Eukles Asset Management now owns 14,241 shares of the company’s stock worth $1,434,000 after purchasing an additional 101 shares during the period. Mid Atlantic Financial Management Inc. ADV lifted its position in shares of Zoetis by 2.4% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,489 shares of the company’s stock worth $452,000 after purchasing an additional 104 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its position in shares of Zoetis by 2.4% in the 1st quarter. Stratos Wealth Advisors LLC now owns 4,673 shares of the company’s stock worth $470,000 after purchasing an additional 111 shares during the period. 90.95% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on ZTS. BMO Capital Markets boosted their price target on shares of Zoetis from $101.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. UBS Group began coverage on shares of Zoetis in a research report on Wednesday, March 20th. They issued a “neutral” rating on the stock. Stifel Nicolaus upgraded shares of Zoetis from a “hold” rating to a “buy” rating and boosted their price target for the stock from $97.00 to $110.00 in a research report on Monday, March 4th. Zacks Investment Research upgraded shares of Zoetis from a “sell” rating to a “hold” rating in a research report on Saturday, February 16th. Finally, SunTrust Banks started coverage on shares of Zoetis in a research report on Tuesday, March 19th. They set a “hold” rating and a $100.00 target price on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.15.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. Zoetis had a net margin of 23.47% and a return on equity of 73.66%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company earned $0.75 EPS. Zoetis’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Zoetis Inc will post 3.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 19th will be given a dividend of $0.164 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Zoetis’s payout ratio is presently 21.09%.
In other Zoetis news, CFO Glenn David sold 8,191 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $102.22, for a total transaction of $837,284.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Roxanne Lagano sold 2,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $101.89, for a total transaction of $203,780.00. Following the sale, the insider now owns 30,727 shares of the company’s stock, valued at approximately $3,130,774.03. The disclosure for this sale can be found here. Insiders have sold a total of 447,975 shares of company stock worth $42,728,902 in the last quarter. 0.29% of the stock is owned by corporate insiders.
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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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