Cadence Capital Management LLC Sells 16,519 Shares of Zoetis Inc (ZTS)
Cadence Capital Management LLC decreased its stake in shares of Zoetis Inc (NYSE:ZTS) by 47.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,562 shares of the company’s stock after selling 16,519 shares during the period. Cadence Capital Management LLC’s holdings in Zoetis were worth $1,337,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Scotia Capital Inc. increased its holdings in Zoetis by 1.5% during the 2nd quarter. Scotia Capital Inc. now owns 9,628 shares of the company’s stock worth $601,000 after purchasing an additional 142 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in Zoetis by 7.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,901 shares of the company’s stock worth $368,000 after purchasing an additional 401 shares during the period. Sandy Spring Bank increased its holdings in Zoetis by 2.3% during the 4th quarter. Sandy Spring Bank now owns 31,018 shares of the company’s stock worth $2,235,000 after purchasing an additional 708 shares during the period. Wendell David Associates Inc. increased its holdings in Zoetis by 8.4% during the 4th quarter. Wendell David Associates Inc. now owns 10,300 shares of the company’s stock worth $742,000 after purchasing an additional 800 shares during the period. Finally, Bath Savings Trust Co increased its holdings in Zoetis by 18.7% during the 3rd quarter. Bath Savings Trust Co now owns 5,308 shares of the company’s stock worth $338,000 after purchasing an additional 835 shares during the period. Institutional investors own 93.73% of the company’s stock.
A number of research analysts have recently commented on ZTS shares. BMO Capital Markets set a $65.00 price objective on Zoetis and gave the company a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded Zoetis from a “hold” rating to a “sell” rating and set a $83.00 price objective on the stock. in a report on Saturday, January 13th. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price objective on shares of Zoetis in a report on Tuesday, October 24th. Citigroup upgraded Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, January 4th. Finally, Cowen set a $80.00 price objective on Zoetis and gave the company a “buy” rating in a report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $73.72.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, January 19th will be given a $0.126 dividend. The ex-dividend date is Thursday, January 18th. This is a boost from Zoetis’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.70%. Zoetis’s dividend payout ratio is 26.32%.
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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