First Bank & Trust Acquires New Position in Zoetis Inc. (ZTS)
First Bank & Trust acquired a new position in Zoetis Inc. (NYSE:ZTS) during the second quarter, Holdings Channel reports. The firm acquired 9,106 shares of the company’s stock, valued at approximately $568,000.
A number of other institutional investors have also modified their holdings of ZTS. BlackRock Inc. raised its position in shares of Zoetis by 2,471.1% in the first quarter. BlackRock Inc. now owns 36,082,470 shares of the company’s stock worth $1,925,722,000 after buying an additional 34,679,064 shares during the period. Morgan Stanley raised its position in shares of Zoetis by 182.5% in the first quarter. Morgan Stanley now owns 14,617,205 shares of the company’s stock worth $780,119,000 after buying an additional 9,442,207 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Zoetis during the first quarter worth about $243,854,000. Waddell & Reed Financial Inc. raised its position in shares of Zoetis by 65.9% in the first quarter. Waddell & Reed Financial Inc. now owns 5,434,371 shares of the company’s stock worth $290,033,000 after buying an additional 2,157,803 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Zoetis by 98.9% in the first quarter. California Public Employees Retirement System now owns 2,455,700 shares of the company’s stock worth $131,258,000 after buying an additional 1,221,200 shares during the period. 95.22% of the stock is owned by institutional investors and hedge funds.
Shares of Zoetis Inc. (NYSE ZTS) opened at 62.12 on Friday. The stock’s 50 day moving average price is $62.59 and its 200 day moving average price is $57.66. Zoetis Inc. has a 1-year low of $46.86 and a 1-year high of $63.85. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 36.12 and a beta of 1.02.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. Zoetis had a net margin of 17.25% and a return on equity of 65.35%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts expect that Zoetis Inc. will post $2.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, June 13th. Zoetis’s dividend payout ratio is presently 24.42%.
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ZTS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Hilliard Lyons initiated coverage on Zoetis in a research note on Tuesday, June 20th. They set a “buy” rating and a $77.00 price target for the company. Argus reaffirmed a “buy” rating and set a $69.00 price target (up from $60.00) on shares of Zoetis in a research note on Tuesday, May 30th. Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price target (up from $62.00) on shares of Zoetis in a research note on Monday, July 17th. Finally, CL King initiated coverage on Zoetis in a research note on Friday, May 26th. They set a “buy” rating and a $71.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.94.
In other Zoetis news, insider Catherine A. Knupp sold 5,785 shares of Zoetis stock in a transaction on Friday, May 12th. The shares were sold at an average price of $60.16, for a total transaction of $348,025.60. Following the completion of the sale, the insider now owns 24,415 shares of the company’s stock, valued at approximately $1,468,806.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.
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 business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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