Strs Ohio lowered its holdings in Zoetis Inc (NYSE:ZTS) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 562,208 shares of the company’s stock after selling 17,223 shares during the period. Strs Ohio’s holdings in Zoetis were worth $63,804,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of ZTS. Hartford Investment Management Co. increased its holdings in Zoetis by 0.9% during the 2nd quarter. Hartford Investment Management Co. now owns 61,422 shares of the company’s stock worth $6,971,000 after acquiring an additional 553 shares during the period. Squar Milner Financial Services LLC increased its holdings in shares of Zoetis by 21.3% in the 2nd quarter. Squar Milner Financial Services LLC now owns 1,860 shares of the company’s stock worth $211,000 after buying an additional 327 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in shares of Zoetis by 1.9% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 48,551 shares of the company’s stock worth $5,510,000 after buying an additional 897 shares during the last quarter. Hemenway Trust Co LLC bought a new position in shares of Zoetis in the 2nd quarter worth $218,000. Finally, First Quadrant L P CA increased its holdings in shares of Zoetis by 639.6% in the 2nd quarter. First Quadrant L P CA now owns 29,746 shares of the company’s stock worth $3,376,000 after buying an additional 25,724 shares during the last quarter. 90.12% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on ZTS. BMO Capital Markets upped their price objective on shares of Zoetis from $101.00 to $105.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Bank of America cut shares of Zoetis from a “buy” rating to a “neutral” rating and upped their price objective for the company from $111.00 to $120.00 in a research note on Monday, July 1st. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective (up previously from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. Barclays began coverage on shares of Zoetis in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $120.00 price objective for the company. Finally, Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Zoetis currently has an average rating of “Buy” and an average target price of $111.73.
Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Zoetis had a net margin of 23.47% and a return on equity of 73.66%. Zoetis’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. As a group, equities research analysts expect that Zoetis Inc will post 3.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 19th will be paid a $0.164 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.66 annualized dividend and a dividend yield of 0.58%. Zoetis’s payout ratio is 21.09%.
In related news, insider Roxanne Lagano sold 29,453 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $101.65, for a total value of $2,993,897.45. Following the completion of the transaction, the insider now directly owns 58,180 shares in the company, valued at approximately $5,913,997. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Clinton A. Jr. Lewis sold 6,123 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $101.90, for a total transaction of $623,933.70. Following the completion of the transaction, the executive vice president now owns 51,926 shares of the company’s stock, valued at $5,291,259.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,613 shares of company stock valued at $7,963,366. 0.29% of the stock is owned by company insiders.
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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