Riverhead Capital Management LLC cut its position in Zoetis Inc (NYSE:ZTS) by 24.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,712 shares of the company’s stock after selling 12,220 shares during the quarter. Riverhead Capital Management LLC’s holdings in Zoetis were worth $3,453,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZTS. Sun Life Financial INC lifted its position in shares of Zoetis by 604.3% during the 2nd quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock valued at $112,000 after acquiring an additional 1,124 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Zoetis during the 3rd quarter valued at $112,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Zoetis by 3,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock valued at $120,000 after acquiring an additional 1,365 shares during the period. Fort L.P. bought a new stake in shares of Zoetis during the 2nd quarter valued at $121,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Zoetis during the 3rd quarter valued at $146,000. Institutional investors and hedge funds own 89.94% of the company’s stock.
In other Zoetis news, insider Heidi C. Chen sold 2,500 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $93.51, for a total value of $233,775.00. Following the completion of the transaction, the insider now owns 17,662 shares of the company’s stock, valued at approximately $1,651,573.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $92.03, for a total value of $184,060.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,511 shares of company stock valued at $16,081,299. Insiders own 0.35% of the company’s stock.
Shares of ZTS stock opened at $88.09 on Friday. The company has a quick ratio of 2.63, a current ratio of 4.06 and a debt-to-equity ratio of 3.04. Zoetis Inc has a twelve month low of $70.20 and a twelve month high of $96.57. The firm has a market cap of $43.44 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.
Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company earned $0.65 EPS. Zoetis’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts expect that Zoetis Inc will post 3.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Tuesday, November 20th were issued a $0.126 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.50 dividend on an annualized basis and a yield of 0.57%. Zoetis’s payout ratio is presently 20.83%.
A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, October 17th. Morgan Stanley set a $100.00 price objective on Zoetis and gave the stock a “hold” rating in a research report on Friday, November 2nd. Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research report on Tuesday, August 21st. They noted that the move was a valuation call. Argus upped their price objective on Zoetis from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Finally, BMO Capital Markets upped their price objective on Zoetis to $93.00 and gave the stock a “neutral” rating in a research report on Monday, November 12th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Zoetis has a consensus rating of “Buy” and an average target price of $94.00.
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Zoetis Company Profile
Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.
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