CIBC Private Wealth Group LLC Has $369.12 Million Position in Zoetis Inc. (NYSE:ZTS)

CIBC Private Wealth Group LLC grew its holdings in Zoetis Inc. (NYSE:ZTS) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,343,896 shares of the company’s stock after purchasing an additional 22,167 shares during the quarter. Zoetis comprises 0.9% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 21st biggest holding. CIBC Private Wealth Group LLC owned approximately 0.49% of Zoetis worth $369,117,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZTS. Financial Counselors Inc. lifted its stake in shares of Zoetis by 11.3% in the first quarter. Financial Counselors Inc. now owns 45,432 shares of the company’s stock valued at $7,155,000 after buying an additional 4,607 shares during the period. Davis R M Inc. lifted its stake in shares of Zoetis by 9.7% in the first quarter. Davis R M Inc. now owns 54,414 shares of the company’s stock valued at $8,569,000 after buying an additional 4,806 shares during the period. Motco lifted its stake in shares of Zoetis by 1.7% in the first quarter. Motco now owns 44,478 shares of the company’s stock valued at $7,005,000 after buying an additional 726 shares during the period. Calamos Wealth Management LLC lifted its stake in shares of Zoetis by 1.5% in the first quarter. Calamos Wealth Management LLC now owns 47,098 shares of the company’s stock valued at $7,417,000 after buying an additional 718 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Zoetis by 20.7% in the fourth quarter. Van ECK Associates Corp now owns 502,263 shares of the company’s stock valued at $83,125,000 after buying an additional 86,049 shares during the period. 90.21% of the stock is currently owned by institutional investors.

Shares of NYSE:ZTS traded down $0.75 during trading on Friday, reaching $181.35. The stock had a trading volume of 10,044 shares, compared to its average volume of 1,935,326. Zoetis Inc. has a 52 week low of $130.40 and a 52 week high of $182.85. The firm has a 50-day simple moving average of $170.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.29 and a quick ratio of 2.47. The company has a market cap of $86.10 billion, a PE ratio of 49.32, a PEG ratio of 3.05 and a beta of 0.64.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 6th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.22. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.73 billion. Zoetis had a net margin of 25.30% and a return on equity of 55.11%. Zoetis’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Zoetis Inc. will post 4.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Wednesday, July 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, July 20th. Zoetis’s dividend payout ratio is currently 25.97%.

In related news, EVP Roxanne Lagano sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The shares were sold at an average price of $169.05, for a total value of $1,014,300.00. Following the completion of the sale, the executive vice president now owns 53,642 shares of the company’s stock, valued at $9,068,180.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Heidi C. Chen sold 11,637 shares of the firm’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $170.14, for a total transaction of $1,979,919.18. Following the completion of the sale, the executive vice president now directly owns 36,282 shares of the company’s stock, valued at approximately $6,173,019.48. The disclosure for this sale can be found here. In the last three months, insiders sold 19,692 shares of company stock valued at $3,319,012. 0.21% of the stock is currently owned by company insiders.

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of Zoetis from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Friday, May 7th. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research note on Tuesday, June 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Zoetis from $175.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 12th. Credit Suisse Group raised their price target on shares of Zoetis from $197.00 to $203.00 in a research note on Wednesday, February 17th. Finally, Bank of America upgraded shares of Zoetis from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, March 8th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $184.38.

About Zoetis

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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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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