Sumitomo Life Insurance Co. increased its holdings in Zoetis Inc (NYSE:ZTS) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,793 shares of the company’s stock after acquiring an additional 1,388 shares during the period. Sumitomo Life Insurance Co.’s holdings in Zoetis were worth $3,546,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Natixis raised its stake in shares of Zoetis by 147.1% during the 2nd quarter. Natixis now owns 547,078 shares of the company’s stock worth $62,088,000 after purchasing an additional 325,661 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Zoetis by 12.0% during the 3rd quarter. California Public Employees Retirement System now owns 2,397,369 shares of the company’s stock worth $298,688,000 after purchasing an additional 256,715 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Zoetis by 9.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,356,999 shares of the company’s stock worth $293,659,000 after purchasing an additional 212,112 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Zoetis by 6.3% during the 2nd quarter. Royal Bank of Canada now owns 3,150,380 shares of the company’s stock worth $357,537,000 after purchasing an additional 185,555 shares in the last quarter. Finally, Nomura Holdings Inc. raised its stake in shares of Zoetis by 54.3% during the 3rd quarter. Nomura Holdings Inc. now owns 524,379 shares of the company’s stock worth $65,623,000 after purchasing an additional 184,479 shares in the last quarter. 89.93% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on ZTS shares. Raymond James started coverage on Zoetis in a research note on Thursday, January 9th. They set a “market perform” rating for the company. Morgan Stanley raised their price target on Zoetis from $100.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. ValuEngine downgraded Zoetis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America reissued a “hold” rating and set a $125.00 price objective on shares of Zoetis in a report on Thursday, December 5th. Finally, Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Thursday, December 26th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.43.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. Zoetis had a return on equity of 70.78% and a net margin of 23.76%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Research analysts forecast that Zoetis Inc will post 3.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Zoetis’s previous quarterly dividend of $0.16. Zoetis’s dividend payout ratio (DPR) is 25.56%.
In other Zoetis news, EVP Roman Trawicki sold 2,199 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $137.41, for a total value of $302,164.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Heidi C. Chen sold 15,329 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $139.81, for a total value of $2,143,147.49. Following the completion of the sale, the executive vice president now directly owns 26,792 shares in the company, valued at approximately $3,745,789.52. The disclosure for this sale can be found here. Insiders sold a total of 141,445 shares of company stock worth $17,242,504 in the last ninety days. Insiders own 0.29% of the company’s stock.
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.
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