Zoetis Inc. (ZTS) Reaches New 1-Year High Following Dividend Announcement
Zoetis Inc. (NYSE:ZTS) hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $53.14 and last traded at $52.79, with a volume of 2,043,287 shares traded. The stock had previously closed at $51.85.
The newly announced dividend which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Tuesday, November 1st. Zoetis’s payout ratio is 29.69%.
Several equities research analysts recently issued reports on ZTS shares. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, June 15th. Citigroup Inc. upped their price target on Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Barclays PLC upped their price target on Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Zoetis in a report on Tuesday, August 23rd. Finally, Credit Suisse Group AG reiterated a “focus list” rating and set a $60.00 price target on shares of Zoetis in a report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.27.
The firm has a 50-day moving average of $51.24 and a 200-day moving average of $48.75. The stock has a market capitalization of $26.12 billion, a P/E ratio of 41.09 and a beta of 1.00.
Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Analysts forecast that Zoetis Inc. will post $1.91 earnings per share for the current fiscal year.
In other Zoetis news, Director Michael B. Mccallister purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was purchased at an average price of $51.34 per share, for a total transaction of $102,680.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Fenton sold 13,870 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $51.25, for a total value of $710,837.50. Following the completion of the transaction, the insider now owns 17,719 shares of the company’s stock, valued at approximately $908,098.75. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ZTS. Massachusetts Financial Services Co. MA raised its stake in shares of Zoetis by 114.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,738,248 shares of the company’s stock valued at $414,717,000 after buying an additional 4,656,765 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Zoetis by 49.9% in the second quarter. Alliancebernstein L.P. now owns 7,634,826 shares of the company’s stock valued at $362,349,000 after buying an additional 2,542,023 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Zoetis by 6.5% in the second quarter. Vanguard Group Inc. now owns 29,819,968 shares of the company’s stock valued at $1,415,256,000 after buying an additional 1,812,428 shares during the last quarter. Marsico Capital Management LLC raised its stake in shares of Zoetis by 321.7% in the second quarter. Marsico Capital Management LLC now owns 2,106,745 shares of the company’s stock valued at $99,986,000 after buying an additional 1,607,218 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Zoetis during the second quarter valued at approximately $69,154,000. 93.12% of the stock is owned by institutional investors.
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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