Evercore Wealth Management LLC raised its stake in shares of Zoetis Inc (NYSE:ZTS) by 23.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,539 shares of the company’s stock after purchasing an additional 2,031 shares during the period. Evercore Wealth Management LLC’s holdings in Zoetis were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sun Life Financial INC boosted its holdings in shares of Zoetis by 604.3% during the 2nd quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock valued at $112,000 after purchasing an additional 1,124 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Zoetis during the 3rd quarter valued at about $112,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Zoetis by 3,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock valued at $120,000 after purchasing an additional 1,365 shares during the last quarter. Fort L.P. bought a new position in shares of Zoetis during the 2nd quarter valued at about $121,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Zoetis during the 3rd quarter valued at about $146,000. 89.94% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:ZTS opened at $88.09 on Friday. The company has a quick ratio of 2.63, a current ratio of 4.06 and a debt-to-equity ratio of 3.04. Zoetis Inc has a 12 month low of $70.20 and a 12 month high of $96.57. The stock has a market capitalization of $43.51 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.06. Zoetis had a net margin of 20.35% and a return on equity of 75.51%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts forecast that Zoetis Inc will post 3.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Tuesday, November 20th were issued a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, November 19th. Zoetis’s payout ratio is 20.83%.
In related news, insider Roxanne Lagano sold 2,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $92.03, for a total value of $184,060.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heidi C. Chen sold 2,500 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $93.51, for a total transaction of $233,775.00. Following the completion of the sale, the insider now directly owns 17,662 shares in the company, valued at $1,651,573.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,511 shares of company stock valued at $16,081,299. 0.35% of the stock is owned by insiders.
Several research analysts have commented on ZTS shares. JPMorgan Chase & Co. increased their price objective on shares of Zoetis from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Morgan Stanley set a $100.00 price objective on shares of Zoetis and gave the company a “hold” rating in a report on Friday, November 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $105.00 price objective (up previously from $98.00) on shares of Zoetis in a report on Wednesday, October 17th. Zacks Investment Research downgraded shares of Zoetis from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Zoetis in a report on Sunday, November 11th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Zoetis has an average rating of “Buy” and an average target price of $94.00.
Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.
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