Diligent Investors LLC lowered its stake in Zoetis Inc (NYSE:ZTS) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,447 shares of the company’s stock after selling 3,050 shares during the period. Zoetis makes up 1.0% of Diligent Investors LLC’s holdings, making the stock its 27th biggest holding. Diligent Investors LLC’s holdings in Zoetis were worth $1,492,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC purchased a new stake in Zoetis during the 3rd quarter worth about $112,000. Capital Bank & Trust Co raised its holdings in shares of Zoetis by 206.5% in the 3rd quarter. Capital Bank & Trust Co now owns 1,269 shares of the company’s stock valued at $116,000 after acquiring an additional 855 shares in the last quarter. Capital Guardian Trust Co. purchased a new stake in shares of Zoetis in the 3rd quarter valued at about $117,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Zoetis in the 3rd quarter valued at about $146,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Zoetis by 551.9% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,760 shares of the company’s stock valued at $161,000 after acquiring an additional 1,490 shares in the last quarter. Institutional investors own 89.92% of the company’s stock.
Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Zoetis from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Monday, October 15th. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $105.00 price target (up from $98.00) on shares of Zoetis in a research report on Wednesday, October 17th. Morgan Stanley set a $100.00 price objective on Zoetis and gave the stock a “hold” rating in a research report on Friday, November 2nd. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Zoetis in a research report on Sunday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Zoetis currently has an average rating of “Buy” and an average target price of $93.53.
NYSE:ZTS opened at $86.83 on Friday. Zoetis Inc has a 12 month low of $70.20 and a 12 month high of $96.57. 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 stock has a market capitalization of $41.42 billion, a P/E ratio of 36.18, a PEG ratio of 1.60 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, January 18th will be paid a dividend of $0.164 per share. This is a boost from Zoetis’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.76%. Zoetis’s dividend payout ratio is currently 27.50%.
Zoetis declared that its Board of Directors has initiated a share buyback program on Wednesday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Kristin C. Peck sold 11,500 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $94.78, for a total value of $1,089,970.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Clinton A. Jr. Lewis sold 6,125 shares of the company’s stock in a transaction on Monday, January 14th. The stock was sold at an average price of $85.21, for a total value of $521,911.25. Following the sale, the insider now owns 48,070 shares of the company’s stock, valued at approximately $4,096,044.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,330 shares of company stock worth $2,487,293. Insiders own 0.35% of the company’s stock.
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.
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