Tufton Capital Management Has $2,690,000 Position in Zoetis Inc. (ZTS)
Tufton Capital Management lowered its stake in Zoetis Inc. (NYSE:ZTS) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 56,687 shares of the company’s stock after selling 3,146 shares during the period. Tufton Capital Management’s holdings in Zoetis were worth $2,690,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of ZTS. TIAA CREF Investment Management LLC raised its stake in Zoetis by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 6,095,780 shares of the company’s stock valued at $270,226,000 after buying an additional 1,607,130 shares during the period. Renaissance Technologies LLC raised its stake in Zoetis by 398.6% in the first quarter. Renaissance Technologies LLC now owns 1,413,100 shares of the company’s stock valued at $62,643,000 after buying an additional 1,129,700 shares during the period. York Capital Management Global Advisors LLC bought a new stake in Zoetis during the first quarter valued at approximately $49,823,000. Teachers Advisors Inc. raised its stake in Zoetis by 159.3% in the first quarter. Teachers Advisors Inc. now owns 1,781,786 shares of the company’s stock valued at $78,987,000 after buying an additional 1,094,629 shares during the period. Finally, Bank of Montreal Can bought a new stake in Zoetis during the second quarter valued at approximately $28,606,000. 93.12% of the stock is currently owned by hedge funds and other institutional investors.
Zoetis Inc. (NYSE:ZTS) traded up 0.91% during trading on Wednesday, hitting $51.06. The stock had a trading volume of 2,487,488 shares. The firm has a market cap of $25.28 billion, a P/E ratio of 39.77 and a beta of 1.01. The stock’s 50 day moving average price is $51.18 and its 200 day moving average price is $47.83. Zoetis Inc. has a 12-month low of $38.26 and a 12-month high of $52.64.
Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The firm earned $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. On average, analysts anticipate that Zoetis Inc. will post $1.90 EPS for the current fiscal year.
ZTS has been the topic of several analyst reports. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $60.00 target price on shares of Zoetis in a report on Tuesday, August 23rd. Argus raised their target price on Zoetis from $54.00 to $58.00 and gave the stock a “below average” rating in a report on Friday, September 9th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of Zoetis in a report on Monday, July 18th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Zoetis in a report on Wednesday, September 14th. Finally, Citigroup Inc. lowered Zoetis from a “buy” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $50.00 in a report on Friday, June 10th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $54.88.
In other Zoetis news, insider Andrew Fenton sold 13,870 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $51.25, for a total transaction of $710,837.50. Following the completion of the sale, the insider now directly owns 17,719 shares of the company’s stock, valued at approximately $908,098.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heidi C. Chen sold 32,097 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $50.98, for a total value of $1,636,305.06. Following the sale, the insider now directly owns 46,060 shares of the company’s stock, valued at $2,348,138.80. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Zoetis Company Profile
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.
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