California State Teachers Retirement System trimmed its position in Zoetis Inc (NYSE:ZTS) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 812,546 shares of the company’s stock after selling 11,534 shares during the period. California State Teachers Retirement System owned about 0.17% of Zoetis worth $58,536,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Two Sigma Securities LLC purchased a new position in Zoetis in the fourth quarter valued at about $451,000. HealthCor Management L.P. boosted its stake in Zoetis by 61.8% in the fourth quarter. HealthCor Management L.P. now owns 645,100 shares of the company’s stock valued at $46,473,000 after acquiring an additional 246,460 shares during the last quarter. Premia Global Advisors LLC purchased a new position in Zoetis in the fourth quarter valued at about $122,000. Robecosam AG boosted its stake in Zoetis by 4.6% in the fourth quarter. Robecosam AG now owns 15,346 shares of the company’s stock valued at $1,111,000 after acquiring an additional 679 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its stake in Zoetis by 15.1% in the fourth quarter. Terra Nova Asset Management LLC now owns 10,130 shares of the company’s stock valued at $730,000 after acquiring an additional 1,330 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.
In other Zoetis news, insider Roman Trawicki sold 8,568 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $83.10, for a total value of $712,000.80. Following the sale, the insider now directly owns 11,457 shares in the company, valued at approximately $952,076.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heidi C. Chen sold 37,453 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $81.02, for a total transaction of $3,034,442.06. The disclosure for this sale can be found here. Insiders sold a total of 105,569 shares of company stock worth $8,594,429 over the last quarter. Corporate insiders own 0.31% of the company’s stock.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Zoetis had a net margin of 16.28% and a return on equity of 65.96%. Zoetis’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. research analysts predict that Zoetis Inc will post 3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, April 20th will be paid a $0.126 dividend. This represents a $0.50 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, April 19th. Zoetis’s dividend payout ratio is presently 22.94%.
A number of research firms have weighed in on ZTS. Citigroup upgraded shares of Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, January 4th. Jefferies Group set a $97.00 target price on shares of Zoetis and gave the company a “buy” rating in a research note on Monday, February 26th. BMO Capital Markets reiterated a “hold” rating on shares of Zoetis in a research note on Monday, January 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $86.00 target price on shares of Zoetis in a research note on Thursday, January 18th. Finally, UBS Group reiterated a “neutral” rating on shares of Zoetis in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $80.28.
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Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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