Capital Innovations LLC trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,389 shares of the company’s stock after selling 1,130 shares during the quarter. Capital Innovations LLC’s holdings in Zoetis were worth $399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ZTS. Northwestern Mutual Wealth Management Co. raised its position in shares of Zoetis by 16.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,598 shares of the company’s stock valued at $100,000 after buying an additional 230 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Zoetis by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Zoetis during the 1st quarter valued at about $111,000. Harfst & Associates Inc. raised its position in shares of Zoetis by 16.1% during the 2nd quarter. Harfst & Associates Inc. now owns 1,878 shares of the company’s stock valued at $117,000 after buying an additional 260 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Zoetis during the 2nd quarter valued at about $119,000. Hedge funds and other institutional investors own 93.20% of the company’s stock.
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Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. Zoetis’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, equities research analysts anticipate that Zoetis Inc. will post $2.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.42 annualized dividend and a yield of 0.66%. Zoetis’s payout ratio is 23.73%.
Several analysts have recently issued reports on ZTS shares. BMO Capital Markets cut shares of Zoetis from an “outperform” rating to a “market perform” rating and upped their target price for the company from $64.00 to $65.00 in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Cantor Fitzgerald started coverage on shares of Zoetis in a research report on Friday, June 16th. They set an “overweight” rating and a $75.00 target price on the stock. Hilliard Lyons started coverage on shares of Zoetis in a research report on Tuesday, June 20th. They set a “buy” rating and a $77.00 target price on the stock. Zacks Investment Research cut shares of Zoetis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Cowen and Company set a $60.00 target price on shares of Zoetis and gave the company a “buy” rating in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. Zoetis has a consensus rating of “Buy” and a consensus price target of $65.44.
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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