IBM Retirement Fund reduced its position in Zoetis Inc (NYSE:ZTS) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,346 shares of the company’s stock after selling 291 shares during the quarter. IBM Retirement Fund’s holdings in Zoetis were worth $1,105,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ZTS. Tarbox Family Office Inc. raised its stake in shares of Zoetis by 74.4% during the third quarter. Tarbox Family Office Inc. now owns 218 shares of the company’s stock worth $27,000 after acquiring an additional 93 shares in the last quarter. Prestige Wealth Management Group LLC bought a new position in shares of Zoetis in the second quarter worth approximately $27,000. Tradewinds Capital Management LLC bought a new position in shares of Zoetis in the third quarter worth approximately $31,000. Atlas Capital Advisors LLC bought a new position in shares of Zoetis in the third quarter worth approximately $33,000. Finally, Prime Capital Investment Advisors LLC bought a new position in shares of Zoetis in the third quarter worth approximately $34,000. Institutional investors own 89.93% of the company’s stock.
ZTS has been the topic of several recent analyst reports. Raymond James began coverage on shares of Zoetis in a report on Thursday, January 9th. They issued a “market perform” rating on the stock. ValuEngine cut shares of Zoetis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group set a $138.00 price target on shares of Zoetis and gave the company a “buy” rating in a report on Friday, October 11th. Morgan Stanley lifted their price target on shares of Zoetis from $100.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Bank of America restated a “hold” rating and set a $125.00 target price on shares of Zoetis in a report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Zoetis has an average rating of “Buy” and an average price target of $127.47.
NYSE:ZTS traded down $0.43 during mid-day trading on Wednesday, reaching $141.50. The company’s stock had a trading volume of 1,888,925 shares, compared to its average volume of 1,956,952. Zoetis Inc has a 12-month low of $82.80 and a 12-month high of $143.33. The firm’s fifty day moving average price is $131.58 and its two-hundred day moving average price is $124.37. The company has a current ratio of 4.39, a quick ratio of 3.02 and a debt-to-equity ratio of 2.47. The stock has a market cap of $66.76 billion, a P/E ratio of 46.70, a PEG ratio of 3.04 and a beta of 0.81.
Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. Zoetis had a return on equity of 70.78% and a net margin of 23.76%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. Zoetis’s revenue was up 7.0% on a year-over-year basis. Analysts predict that Zoetis Inc will post 3.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. This is a positive change from Zoetis’s previous quarterly dividend of $0.16. Zoetis’s dividend payout ratio is presently 25.56%.
In other news, EVP Roxanne Lagano sold 4,463 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $118.99, for a total transaction of $531,052.37. Following the completion of the sale, the executive vice president now owns 33,190 shares of the company’s stock, valued at approximately $3,949,278.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristin C. Peck sold 11,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $117.16, for a total value of $1,347,340.00. Following the transaction, the executive vice president now owns 44,877 shares of the company’s stock, valued at $5,257,789.32. The disclosure for this sale can be found here. Insiders have sold a total of 126,116 shares of company stock valued at $15,099,357 in the last ninety days. Insiders own 0.29% of the company’s stock.
Zoetis 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.