Zoetis Inc. (ZTS) Stake Cut by CIBC Asset Management Inc
CIBC Asset Management Inc lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,597 shares of the company’s stock after selling 3,478 shares during the period. CIBC Asset Management Inc’s holdings in Zoetis were worth $3,780,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ZTS. Guardian Life Insurance Co. of America boosted its stake in shares of Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares in the last quarter. Sii Investments Inc. WI boosted its stake in shares of Zoetis by 0.3% in the first quarter. Sii Investments Inc. WI now owns 7,161 shares of the company’s stock valued at $383,000 after buying an additional 23 shares in the last quarter. Argent Trust Co boosted its stake in shares of Zoetis by 0.8% in the first quarter. Argent Trust Co now owns 4,132 shares of the company’s stock valued at $221,000 after buying an additional 32 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Zoetis by 1.9% in the first quarter. CENTRAL TRUST Co now owns 2,664 shares of the company’s stock valued at $142,000 after buying an additional 49 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Zoetis by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,201 shares of the company’s stock valued at $262,000 after buying an additional 55 shares in the last quarter. 95.22% of the stock is owned by institutional investors.
Zoetis Inc. (NYSE ZTS) opened at 62.12 on Friday. Zoetis Inc. has a 52-week low of $46.86 and a 52-week high of $63.85. The firm has a 50-day moving average of $62.59 and a 200 day moving average of $57.66. The company has a market cap of $30.49 billion, a PE ratio of 36.12 and a beta of 1.02.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.20 billion. During the same period last year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that Zoetis Inc. will post $2.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, June 15th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, June 13th. Zoetis’s dividend payout ratio is currently 24.42%.
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Several brokerages have recently issued reports on ZTS. Cowen and Company set a $70.00 price objective on shares of Zoetis and gave the company a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $64.00 to $65.00 in a report on Tuesday, June 13th. They noted that the move was a valuation call. Jefferies Group LLC lifted their target price on shares of Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. CL King began coverage on shares of Zoetis in a report on Friday, May 26th. They set a “buy” rating and a $71.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $65.00 target price on shares of Zoetis in a report on Friday, July 21st. 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 company’s stock. Zoetis currently has an average rating of “Buy” and a consensus target price of $64.94.
In related news, insider Catherine A. Knupp sold 5,785 shares of Zoetis stock in a transaction dated 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 transaction, the insider now directly owns 24,415 shares of the company’s stock, valued at approximately $1,468,806.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.
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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