CIBC Asset Management Inc lessened its stake in Zoetis Inc (NYSE:ZTS) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,905 shares of the company’s stock after selling 389 shares during the quarter. CIBC Asset Management Inc’s holdings in Zoetis were worth $4,782,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Athena Capital Advisors LLC acquired a new stake in Zoetis during the fourth quarter worth $29,000. Lavaca Capital LLC purchased a new position in shares of Zoetis during the fourth quarter worth $32,000. Acima Private Wealth LLC purchased a new position in shares of Zoetis during the fourth quarter worth $34,000. Karp Capital Management Corp purchased a new position in shares of Zoetis during the fourth quarter worth $38,000. Finally, Ledyard National Bank boosted its position in shares of Zoetis by 393.3% during the fourth quarter. Ledyard National Bank now owns 587 shares of the company’s stock worth $50,000 after buying an additional 468 shares during the period. 89.45% of the stock is owned by hedge funds and other institutional investors.
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In other Zoetis news, EVP Roxanne Lagano sold 2,000 shares of the firm’s stock in a transaction on Monday, December 31st. The stock was sold at an average price of $85.30, for a total value of $170,600.00. Following the sale, the executive vice president now directly owns 22,023 shares in the company, valued at $1,878,561.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kristin C. Peck sold 11,500 shares of the firm’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $86.79, for a total value of $998,085.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 390,499 shares of company stock worth $36,620,225. 0.35% of the stock is owned by insiders.
Zoetis stock opened at $92.55 on Friday. Zoetis Inc has a 1-year low of $77.00 and a 1-year high of $97.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 2.46 and a current ratio of 3.60. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, February 14th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Zoetis had a return on equity of 73.85% and a net margin of 24.51%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $0.69 earnings per share. Zoetis’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Zoetis Inc will post 3.46 earnings per share for the current fiscal year.
Zoetis announced that its board has authorized a share buyback plan on Wednesday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, April 18th will be paid a $0.164 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, April 17th. Zoetis’s dividend payout ratio is presently 21.09%.
ZTS has been the subject of several research analyst reports. Zacks Investment Research lowered Zoetis from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. UBS Group initiated coverage on Zoetis in a research report on Wednesday, January 23rd. They set a “neutral” rating and a $86.00 price target for the company. Stifel Nicolaus upgraded Zoetis from a “hold” rating to a “buy” rating and lifted their target price for the company from $97.00 to $110.00 in a report on Monday. BMO Capital Markets lifted their target price on Zoetis from $93.00 to $101.00 and gave the company a “market perform” rating in a report on Monday, February 25th. Finally, Argus set a $105.00 target price on Zoetis and gave the company a “buy” rating in a report on Tuesday, November 13th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $98.85.
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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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