Investors Buy 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 equities 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
Several equities research analysts have recently weighed in on ZTS shares. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Zoetis in a research report on Wednesday, May 4th. Goldman Sachs Group Inc. lowered Zoetis from a “neutral” rating to a “sell” rating and upped their target price for the company from $46.00 to $48.00 in a research note on Friday, May 6th. Jefferies Group restated a “buy” rating on shares of Zoetis in a research note on Sunday, May 8th. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, May 9th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Zoetis in a research note on Sunday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Zoetis has a consensus rating of “Buy” and an average target price of $54.63.
The firm has a market capitalization of $25.35 billion and a P/E ratio of 39.79. The firm’s 50 day moving average price is $48.80 and its 200 day moving average price is $45.68.
Zoetis (NYSE:ZTS) last issued its earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Equities research analysts predict that Zoetis Inc. will post $1.90 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders 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 dividend yield of 0.74%.
In other news, Director Pershing Square Capital Manage sold 16,850,000 shares of Zoetis stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through this link.
A number of hedge funds have recently added to or reduced their stakes in ZTS. Advantus Capital Management Inc increased its stake in Zoetis by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 44,257 shares of the company’s stock valued at $2,121,000 after buying an additional 1,110 shares during the period. Pittenger & Anderson Inc. increased its stake in Zoetis by 5.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 53,605 shares of the company’s stock valued at $2,569,000 after buying an additional 2,600 shares during the period. American International Group Inc. increased its stake in Zoetis by 3.5% in the fourth quarter. American International Group Inc. now owns 205,930 shares of the company’s stock valued at $9,868,000 after buying an additional 7,038 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Zoetis by 21.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 124,137 shares of the company’s stock valued at $5,949,000 after buying an additional 21,562 shares during the period. Finally, Greenwood Capital Associates LLC purchased a new stake in Zoetis during the fourth quarter valued at about $1,532,000.
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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