Bp Plc decreased its holdings in shares of Zoetis Inc (NYSE:ZTS) by 61.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,000 shares of the company’s stock after selling 83,000 shares during the quarter. Bp Plc’s holdings in Zoetis were worth $4,448,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ZTS. Oregon Public Employees Retirement Fund grew its position in shares of Zoetis by 9,042.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,335,563 shares of the company’s stock worth $168,000 after buying an additional 14,178,765 shares during the period. Marshall Wace LLP grew its position in shares of Zoetis by 76.4% during the 3rd quarter. Marshall Wace LLP now owns 3,216,573 shares of the company’s stock worth $294,509,000 after buying an additional 1,393,397 shares during the period. Renaissance Technologies LLC grew its position in shares of Zoetis by 206.5% during the 3rd quarter. Renaissance Technologies LLC now owns 2,062,100 shares of the company’s stock worth $188,806,000 after buying an additional 1,389,300 shares during the period. Marshall Wace North America L.P. grew its position in shares of Zoetis by 32.6% during the 3rd quarter. Marshall Wace North America L.P. now owns 4,202,241 shares of the company’s stock worth $384,757,000 after buying an additional 1,034,161 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Zoetis by 167.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,607,247 shares of the company’s stock worth $137,484,000 after buying an additional 1,005,212 shares during the period. Institutional investors own 92.87% of the company’s stock.
In related news, insider Heidi C. Chen sold 2,500 shares of Zoetis stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $93.51, for a total transaction of $233,775.00. Following the transaction, the insider now owns 17,662 shares of the company’s stock, valued at approximately $1,651,573.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Willie M. Reed sold 3,205 shares of Zoetis stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $93.74, for a total transaction of $300,436.70. Following the transaction, the director now directly owns 566 shares in the company, valued at approximately $53,056.84. The disclosure for this sale can be found here. Insiders have sold a total of 27,330 shares of company stock worth $2,395,408 in the last three months. 0.35% of the stock is owned by insiders.
Several brokerages have recently commented on ZTS. Zacks Investment Research cut shares of Zoetis from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Argus set a $105.00 price target on shares of Zoetis and gave the stock a “buy” rating in a research report on Tuesday, November 13th. BMO Capital Markets reiterated a “hold” rating on shares of Zoetis in a research report on Sunday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Zoetis from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Finally, UBS Group began coverage on shares of Zoetis in a research report on Wednesday, January 23rd. They set a “neutral” rating and a $86.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $93.53.
Zoetis stock opened at $88.25 on Thursday. Zoetis Inc has a fifty-two week low of $72.78 and a fifty-two week high of $96.57. The company has a market cap of $42.04 billion, a P/E ratio of 36.77, a PEG ratio of 1.59 and a beta of 0.88. The company has a debt-to-equity ratio of 3.04, a quick ratio of 2.63 and a current ratio of 4.06.
Zoetis declared that its board has authorized a stock repurchase program on Wednesday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, April 18th will be paid a dividend of $0.164 per share. This represents a $0.66 annualized dividend and a yield of 0.74%. The ex-dividend date is Wednesday, April 17th. Zoetis’s payout ratio is 27.50%.
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Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines 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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