Traders Buy Shares of Zoetis Inc. (ZTS) on Weakness
Traders purchased shares of Zoetis Inc. (NYSE:ZTS) on weakness during trading on Friday. $41.28 million flowed into the stock on the tick-up and $27.96 million flowed out of the stock on the tick-down, for a money net flow of $13.32 million into the stock. Of all stocks tracked, Zoetis had the 26th highest net in-flow for the day. Zoetis traded down ($0.32) for the day and closed at $51.09
ZTS has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. downgraded Zoetis from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $46.00 to $48.00 in a report on Friday, May 6th. Stifel Nicolaus initiated coverage on Zoetis in a research note on Tuesday, May 31st. They issued a “buy” rating and a $58.00 price objective for the company. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Monday, May 9th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Zoetis in a research note on Monday, July 18th. Finally, Jefferies Group raised their price objective on Zoetis from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Zoetis presently has an average rating of “Buy” and an average target price of $54.63.
The company has a 50 day moving average price of $48.80 and a 200 day moving average price of $45.68. The firm has a market cap of $25.35 billion and a price-to-earnings ratio of 67.40.
Zoetis (NYSE:ZTS) last announced its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm earned $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Zoetis Inc. will post $1.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.38 annualized dividend and a yield of 0.74%.
In other Zoetis news, Director Pershing Square Capital Manage sold 16,850,000 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $46.55, for a total transaction of $784,367,500.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Several institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in Zoetis by 3.5% in the fourth quarter. American International Group Inc. now owns 205,930 shares of the company’s stock worth $9,868,000 after buying an additional 7,038 shares during the period. BlackRock Advisors LLC increased its position in Zoetis by 8.7% in the fourth quarter. BlackRock Advisors LLC now owns 2,523,641 shares of the company’s stock worth $120,932,000 after buying an additional 202,029 shares during the period. Westfield Capital Management Co. LP purchased a new position in Zoetis during the fourth quarter worth about $21,636,000. KBC Group NV increased its position in Zoetis by 19.5% in the fourth quarter. KBC Group NV now owns 226,507 shares of the company’s stock worth $10,854,000 after buying an additional 37,018 shares during the period. Finally, Foresters Investment Management Company Inc. increased its position 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 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.
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