Amundi Asset Management US Inc. cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 38.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,176,710 shares of the company’s stock after selling 730,802 shares during the quarter. Amundi Asset Management US Inc. owned 0.25% of Zoetis worth $185,308,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Alliancebernstein L.P. boosted its stake in Zoetis by 7.1% during the 1st quarter. Alliancebernstein L.P. now owns 17,823,733 shares of the company’s stock worth $2,806,882,000 after purchasing an additional 1,178,470 shares during the last quarter. Polen Capital Management LLC raised its holdings in Zoetis by 2.2% in the 1st quarter. Polen Capital Management LLC now owns 11,587,601 shares of the company’s stock valued at $1,824,815,000 after buying an additional 244,701 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Zoetis by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,062,310 shares of the company’s stock valued at $1,584,612,000 after buying an additional 912,551 shares during the period. Geode Capital Management LLC raised its holdings in Zoetis by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 7,585,607 shares of the company’s stock valued at $1,191,202,000 after buying an additional 55,793 shares during the period. Finally, Northern Trust Corp increased its stake in Zoetis by 4.1% during the first 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 period. 90.03% of the stock is owned by institutional investors.
A number of analysts recently weighed in on ZTS shares. Argus upped their target price 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. Citigroup increased their price objective on Zoetis from $175.00 to $184.00 in a report on Wednesday, May 12th. Raymond James cut Zoetis from an “outperform” rating to a “market perform” rating in a research note on Friday, July 16th. Cantor Fitzgerald increased their price objective on Zoetis from $210.00 to $238.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Finally, Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Tuesday, June 1st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Zoetis currently has an average rating of “Buy” and an average price target of $188.21.
Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, May 6th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.22. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.73 billion. Zoetis had a return on equity of 55.11% and a net margin of 25.30%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, sell-side analysts anticipate that Zoetis Inc. will post 4.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Shareholders of record on Wednesday, July 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 20th. This represents a $1.00 annualized dividend and a yield of 0.50%. Zoetis’s dividend payout ratio (DPR) is 25.97%.
In other news, EVP Roxanne Lagano sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 19th. The stock was sold at an average price of $169.05, for a total value of $1,014,300.00. Following the completion of the transaction, the executive vice president now directly 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 available at this link. Corporate insiders own 0.17% of the company’s stock.
Zoetis Company Profile
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.
See Also: Hang Seng Index (HSI)
Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS).
Receive News & Ratings for Zoetis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zoetis and related companies with MarketBeat.com's FREE daily email newsletter.