Investors Sell Shares of Zoetis Inc. (ZTS) on Strength (ZTS)
Investors sold shares of Zoetis Inc. (NYSE:ZTS) on strength during trading hours on Wednesday. $16.74 million flowed into the stock on the tick-up and $28.60 million flowed out of the stock on the tick-down, for a money net flow of $11.86 million out of the stock. Of all companies tracked, Zoetis had the 0th highest net out-flow for the day. Zoetis traded up $0.32 for the day and closed at $49.19
A number of research analysts recently issued reports on ZTS shares. Zacks Investment Research upgraded shares of Zoetis from a “sell” rating to a “hold” rating in a research report on Wednesday, March 16th. Guggenheim restated a “buy” rating and set a $60.00 target price on shares of Zoetis in a research report on Wednesday, May 4th. Goldman Sachs Group Inc. downgraded shares of Zoetis from a “neutral” rating to a “sell” rating and boosted their target price for the company from $46.00 to $48.00 in a research report on Friday, May 6th. Jefferies Group restated a “buy” rating on shares of Zoetis in a research report on Sunday, May 8th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Zoetis in a research report on Sunday, May 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.38.
The stock’s 50 day moving average is $47.53 and its 200 day moving average is $45.18. The firm has a market capitalization of $24.41 billion and a P/E ratio of 64.89.
Zoetis (NYSE:ZTS) last released its earnings results on Wednesday, May 4th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Zoetis’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Zoetis Inc. will post $1.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Thursday, June 30th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.38 dividend on an annualized basis and a yield of 0.77%.
In related news, Director Pershing Square Capital Manage sold 16,850,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $46.55, for a total value of $784,367,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other large investors recently added to or reduced their stakes in the company. Foresters Investment Management Company Inc. increased its stake in Zoetis by 14.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 373,734 shares of the company’s stock worth $17,909,000 after buying an additional 46,800 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Zoetis during the fourth quarter worth $1,532,000. Pittenger & Anderson Inc. boosted its position in shares of Zoetis by 5.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 53,605 shares of the company’s stock worth $2,569,000 after buying an additional 2,600 shares during the period. Marshall Wace LLP boosted its position in shares of Zoetis by 24.9% in the fourth quarter. Marshall Wace LLP now owns 9,390,614 shares of the company’s stock worth $449,999,000 after buying an additional 1,874,617 shares during the period. Finally, Sandhill Capital Partners LLC boosted its position in shares of Zoetis by 0.4% in the fourth quarter. Sandhill Capital Partners LLC now owns 309,672 shares of the company’s stock worth $14,839,000 after buying an additional 1,311 shares during the period.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.