Exchange Traded Concepts LLC raised its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 351.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,404 shares of the company's stock after buying an additional 5,765 shares during the quarter. Exchange Traded Concepts LLC's holdings in Zoetis were worth $1,206,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of ZTS. Mizuho Securities USA LLC grew its holdings in Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company's stock valued at $950,524,000 after buying an additional 4,829,815 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Zoetis by 41,235.7% during the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company's stock valued at $183,652,000 after buying an additional 937,700 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Zoetis by 296.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company's stock valued at $144,917,000 after buying an additional 665,331 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Zoetis by 38.3% during the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company's stock worth $336,266,000 after purchasing an additional 572,511 shares during the period. Finally, Holocene Advisors LP purchased a new position in shares of Zoetis during the 3rd quarter worth $110,809,000. Institutional investors and hedge funds own 92.80% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on ZTS shares. Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They set an "outperform" rating and a $215.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. UBS Group initiated coverage on Zoetis in a research note on Monday, December 9th. They set a "neutral" rating and a $196.00 price target on the stock. Finally, Morgan Stanley cut their target price on Zoetis from $248.00 to $243.00 and set an "overweight" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Zoetis currently has an average rating of "Buy" and a consensus price target of $215.00.
Check Out Our Latest Analysis on Zoetis
Zoetis Stock Performance
NYSE ZTS traded down $1.90 during trading hours on Friday, reaching $170.81. The company's stock had a trading volume of 2,469,464 shares, compared to its average volume of 2,681,148. The business has a 50-day simple moving average of $169.74 and a 200 day simple moving average of $179.54. The stock has a market cap of $77.06 billion, a PE ratio of 32.11, a PEG ratio of 2.70 and a beta of 0.89. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53.
Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. Equities research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.
Zoetis Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This is a boost from Zoetis's previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 1.17%. Zoetis's payout ratio is presently 37.59%.
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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