Capstone Asset Management Co. raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 82,417 shares of the company’s stock after buying an additional 230 shares during the period. Capstone Asset Management Co.’s holdings in Zoetis were worth $4,287,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Zoetis by 6.5% in the second quarter. Vanguard Group Inc. now owns 29,819,968 shares of the company’s stock worth $1,415,256,000 after buying an additional 1,812,428 shares during the period. Independent Franchise Partners LLP raised its stake in shares of Zoetis by 1.7% in the second quarter. Independent Franchise Partners LLP now owns 11,183,747 shares of the company’s stock worth $530,780,000 after buying an additional 188,259 shares during the period. Principal Financial Group Inc. raised its stake in shares of Zoetis by 0.9% in the second quarter. Principal Financial Group Inc. now owns 9,890,168 shares of the company’s stock worth $469,388,000 after buying an additional 92,034 shares during the period. Marshall Wace LLP raised its stake in shares of Zoetis by 1.9% in the second quarter. Marshall Wace LLP now owns 9,159,978 shares of the company’s stock worth $434,733,000 after buying an additional 173,902 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Zoetis by 114.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,738,248 shares of the company’s stock worth $414,717,000 after buying an additional 4,656,765 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.
Zoetis Inc. (NYSE:ZTS) traded down 0.06% during midday trading on Monday, reaching $50.15. 2,695,157 shares of the company traded hands. Zoetis Inc. has a 12 month low of $38.26 and a 12 month high of $53.14. The firm has a 50 day moving average of $50.08 and a 200-day moving average of $49.59. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 36.16 and a beta of 1.05.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.06. Zoetis had a net margin of 14.10% and a return on equity of 72.96%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Zoetis Inc. will post $1.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be issued a dividend of $0.095 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.76%. Zoetis’s dividend payout ratio is currently 27.54%.
A number of analysts recently issued reports on the stock. Bank of America Corp. assumed coverage on shares of Zoetis in a research report on Thursday, September 29th. They set a “buy” rating and a $60.00 target price on the stock. Citigroup Inc. raised their target price on shares of Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Zacks Investment Research lowered shares of Zoetis from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Credit Suisse Group AG restated an “outperform” rating and set a $60.00 target price on shares of Zoetis in a research report on Tuesday, August 23rd. Finally, Argus lifted their price target on shares of Zoetis from $54.00 to $58.00 and gave the company a “below average” rating in a report on Friday, September 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.92.
In other news, insider Roxanne Lagano sold 9,797 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $50.43, for a total transaction of $494,062.71. Following the sale, the insider now owns 8,063 shares in the company, valued at $406,617.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Mccallister purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were purchased at an average price of $51.34 per share, for a total transaction of $102,680.00. The disclosure for this purchase can be found here. Insiders own 0.05% of the company’s stock.
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 diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.