Great Lakes Advisors LLC trimmed its position in Zoetis Inc. (NYSE:ZTS – Get Rating) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,848 shares of the company’s stock after selling 2,778 shares during the period. Great Lakes Advisors LLC’s holdings in Zoetis were worth $7,703,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in Zoetis by 3.7% during the 4th quarter. BlackRock Inc. now owns 40,315,810 shares of the company’s stock worth $9,838,266,000 after buying an additional 1,427,812 shares during the period. State Street Corp raised its holdings in Zoetis by 2.7% during the 4th quarter. State Street Corp now owns 19,994,627 shares of the company’s stock worth $4,879,289,000 after buying an additional 529,974 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Zoetis by 2.6% in the fourth quarter. Alliancebernstein L.P. now owns 17,663,325 shares of the company’s stock valued at $4,310,381,000 after purchasing an additional 441,440 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Zoetis by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 8,710,236 shares of the company’s stock valued at $2,120,301,000 after purchasing an additional 159,268 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Zoetis by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,360,660 shares of the company’s stock valued at $1,308,162,000 after purchasing an additional 24,432 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Zoetis news, EVP Roxanne Lagano sold 4,334 shares of Zoetis stock in a transaction on Monday, June 27th. The shares were sold at an average price of $175.00, for a total transaction of $758,450.00. Following the completion of the transaction, the executive vice president now directly owns 23,687 shares of the company’s stock, valued at $4,145,225. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Roxanne Lagano sold 4,334 shares of Zoetis stock in a transaction on Monday, June 27th. The stock was sold at an average price of $175.00, for a total transaction of $758,450.00. Following the completion of the sale, the executive vice president now owns 23,687 shares of the company’s stock, valued at $4,145,225. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kristin C. Peck sold 311 shares of Zoetis stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $180.00, for a total value of $55,980.00. Following the sale, the chief executive officer now directly owns 39,743 shares of the company’s stock, valued at approximately $7,153,740. The disclosure for this sale can be found here. Insiders sold a total of 18,356 shares of company stock valued at $3,250,158 over the last ninety days. 0.12% of the stock is currently owned by company insiders.
Zoetis Price Performance
Zoetis (NYSE:ZTS – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.02). Zoetis had a net margin of 26.27% and a return on equity of 49.62%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $1.19 earnings per share. Zoetis’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Zoetis Inc. will post 5.04 EPS for the current fiscal year.
Zoetis Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, July 21st will be given a dividend of $0.325 per share. The ex-dividend date is Wednesday, July 20th. This represents a $1.30 dividend on an annualized basis and a yield of 0.74%. Zoetis’s dividend payout ratio (DPR) is 29.82%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on ZTS shares. Piper Sandler started coverage on shares of Zoetis in a report on Monday, July 11th. They issued an “overweight” rating and a $205.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Zoetis from $208.00 to $202.00 and set a “buy” rating on the stock in a report on Thursday, July 21st. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Zoetis from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 24th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Zoetis currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.88.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products 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.
- Get a free copy of the StockNews.com research report on Zoetis (ZTS)
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