Voloridge Investment Management LLC grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 36.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 535,721 shares of the company’s stock after purchasing an additional 143,309 shares during the period. Zoetis comprises approximately 0.6% of Voloridge Investment Management LLC’s holdings, making the stock its 22nd largest holding. Voloridge Investment Management LLC’s holdings in Zoetis were worth $84,365,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ZTS. Financial Counselors Inc. increased its stake in shares of Zoetis by 11.3% during the 1st quarter. Financial Counselors Inc. now owns 45,432 shares of the company’s stock worth $7,155,000 after purchasing an additional 4,607 shares during the last quarter. Northern Trust Corp increased its stake in shares of Zoetis by 4.1% during the 1st quarter. Northern Trust Corp now owns 5,817,979 shares of the company’s stock worth $916,216,000 after purchasing an additional 228,477 shares during the last quarter. Davis R M Inc. increased its stake in shares of Zoetis by 9.7% during the 1st quarter. Davis R M Inc. now owns 54,414 shares of the company’s stock worth $8,569,000 after purchasing an additional 4,806 shares during the last quarter. Maple Capital Management Inc. increased its stake in shares of Zoetis by 4.0% during the 1st quarter. Maple Capital Management Inc. now owns 52,295 shares of the company’s stock worth $8,235,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Motco increased its stake in shares of Zoetis by 1.7% during the 1st quarter. Motco now owns 44,478 shares of the company’s stock worth $7,005,000 after purchasing an additional 726 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Roxanne Lagano sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 19th. The shares were sold at an average price of $169.05, for a total transaction of $1,014,300.00. Following the completion of the sale, the executive vice president now owns 53,642 shares of the company’s stock, valued at approximately $9,068,180.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.
Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 6th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.22. Zoetis had a net margin of 25.30% and a return on equity of 55.11%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. Equities analysts predict that Zoetis Inc. will post 4.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Wednesday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Tuesday, July 20th. Zoetis’s dividend payout ratio (DPR) is presently 25.97%.
Several research analysts have recently weighed in on the stock. Argus boosted their price objective on shares of Zoetis from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, May 28th. Barclays upped their price target on shares of Zoetis from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Friday, May 7th. Raymond James lowered shares of Zoetis from an “outperform” rating to a “market perform” rating in a research note on Friday, July 16th. upped their price target on shares of Zoetis from $175.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, May 12th. Finally, Cantor Fitzgerald upped their price target on shares of Zoetis from $210.00 to $238.00 and gave the company an “overweight” rating in a research note on Tuesday, July 13th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $188.21.
Zoetis, Inc discovers, develops, and manufactures a portfolio of animal health medicines and vaccines. The firm operates through the following segments: United States &International. Its products are complemented by diagnostic products, genetic tests, bio devices, and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal.
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