South Plains Financial Inc. bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,514 shares of the company's stock, valued at approximately $898,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Zoetis in the 4th quarter worth approximately $824,321,000. Wellington Management Group LLP lifted its holdings in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the period. Raymond James Financial Inc. bought a new stake in Zoetis during the fourth quarter valued at $196,651,000. Polen Capital Management LLC grew its holdings in Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock worth $1,219,237,000 after acquiring an additional 1,116,541 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Zoetis in the 4th quarter worth about $178,688,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.
Zoetis Stock Up 1.1 %
ZTS stock traded up $1.78 during mid-day trading on Friday, reaching $157.43. 2,654,708 shares of the company traded hands, compared to its average volume of 2,464,692. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm's 50 day moving average price is $158.31 and its 200 day moving average price is $167.22. The stock has a market cap of $70.24 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 2.78 and a beta of 0.92. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33.
Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.30 billion. As a group, equities research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.
Zoetis Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.27%. Zoetis's dividend payout ratio (DPR) is 36.56%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ZTS shares. StockNews.com upgraded Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Stifel Nicolaus dropped their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley reduced their price target on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Piper Sandler upped their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Barclays raised their target price on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $214.40.
Check Out Our Latest Stock Analysis on Zoetis
Insider Buying and Selling at Zoetis
In other news, Director Willie M. Reed sold 1,210 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares of the company's stock, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,862 shares of company stock worth $312,254. Insiders own 0.16% of the company's stock.
About Zoetis
(
Free Report)
Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.
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