Polaris Greystone Financial Group LLC acquired a new stake in Zoetis Inc (NYSE:ZTS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 174,836 shares of the company’s stock, valued at approximately $19,856,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in shares of Zoetis by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,425,455 shares of the company’s stock valued at $121,929,000 after acquiring an additional 39,319 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Zoetis by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 6,227,976 shares of the company’s stock valued at $531,801,000 after buying an additional 785,088 shares during the period. Actinver Wealth Management Inc. bought a new stake in shares of Zoetis in the fourth quarter valued at approximately $218,000. Hayden Royal LLC bought a new stake in shares of Zoetis in the first quarter valued at approximately $213,000. Finally, Neville Rodie & Shaw Inc. boosted its stake in shares of Zoetis by 1.5% in the first quarter. Neville Rodie & Shaw Inc. now owns 153,048 shares of the company’s stock valued at $15,408,000 after buying an additional 2,278 shares during the period. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Shares of ZTS traded down $3.44 during trading hours on Monday, hitting $112.92. The stock had a trading volume of 190,958 shares, compared to its average volume of 1,686,010. The company has a debt-to-equity ratio of 2.84, a current ratio of 4.05 and a quick ratio of 2.79. The business’s 50-day moving average is $113.94. Zoetis Inc has a fifty-two week low of $78.90 and a fifty-two week high of $117.03. The firm has a market cap of $55.06 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 3.18 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.164 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is 21.09%.
In related news, insider Clinton A. Jr. Lewis sold 6,123 shares of Zoetis stock in a transaction 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 sale, the insider now directly owns 46,812 shares of the company’s stock, valued at $5,293,969.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn David sold 8,191 shares of Zoetis stock in a transaction on Friday, May 17th. The stock was sold at an average price of $102.22, for a total value of $837,284.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,613 shares of company stock worth $7,963,366. 0.29% of the stock is currently owned by insiders.
Several brokerages recently issued reports on ZTS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target (up from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. BMO Capital Markets upped their target price on Zoetis from $101.00 to $105.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. Bank of America cut Zoetis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $111.00 to $120.00 in a research note on Monday, July 1st. They noted that the move was a valuation call. Craig Hallum upped their target price on Zoetis from $114.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Zacks Investment Research cut Zoetis from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Zoetis currently has an average rating of “Buy” and an average target price of $111.73.
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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