Investors Buy Zoetis (ZTS) on Weakness

Investors bought shares of Zoetis Inc (NYSE:ZTS) on weakness during trading on Monday. $95.88 million flowed into the stock on the tick-up and $28.51 million flowed out of the stock on the tick-down, for a money net flow of $67.37 million into the stock. Of all stocks tracked, Zoetis had the 18th highest net in-flow for the day. Zoetis traded down ($0.56) for the day and closed at $86.27

A number of brokerages have issued reports on ZTS. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, October 17th. BMO Capital Markets upped their price objective on shares of Zoetis to $93.00 and gave the stock a “neutral” rating in a research report on Monday, November 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Zoetis from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Monday, October 15th. Argus set a $105.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $105.00 price objective (up from $98.00) on shares of Zoetis in a research report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Zoetis currently has a consensus rating of “Buy” and a consensus price target of $93.53.

The company has a current ratio of 4.06, a quick ratio of 2.63 and a debt-to-equity ratio of 3.04. The company has a market cap of $41.37 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.59 and a beta of 0.88.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, January 18th will be paid a $0.164 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.76%. This is a boost from Zoetis’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, January 17th. Zoetis’s payout ratio is presently 27.50%.

Zoetis declared that its board has authorized a share buyback plan on Wednesday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $85.30, for a total transaction of $170,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Willie M. Reed sold 3,205 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $93.74, for a total transaction of $300,436.70. Following the sale, the director now owns 566 shares in the company, valued at $53,056.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,830 shares of company stock worth $1,397,323. Corporate insiders own 0.35% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. lifted its stake in shares of Zoetis by 3.2% during the 4th quarter. Whittier Trust Co. now owns 4,039 shares of the company’s stock valued at $345,000 after buying an additional 124 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Zoetis by 0.6% during the 4th quarter. North Star Investment Management Corp. now owns 22,525 shares of the company’s stock valued at $1,927,000 after buying an additional 125 shares in the last quarter. Sandy Spring Bank lifted its stake in shares of Zoetis by 0.4% during the 4th quarter. Sandy Spring Bank now owns 29,716 shares of the company’s stock valued at $2,542,000 after buying an additional 125 shares in the last quarter. InterOcean Capital LLC lifted its stake in shares of Zoetis by 5.0% during the 4th quarter. InterOcean Capital LLC now owns 2,945 shares of the company’s stock valued at $252,000 after buying an additional 139 shares in the last quarter. Finally, Harvest Management LLC lifted its stake in shares of Zoetis by 8.0% during the 4th quarter. Harvest Management LLC now owns 2,700 shares of the company’s stock valued at $231,000 after buying an additional 200 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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About Zoetis (NYSE:ZTS)

Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines 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.

Read More: Market Capitalization and Individual Investors

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