Retirement Systems of Alabama Has $14.84 Million Position in Zoetis Inc. (NYSE:ZTS)
Retirement Systems of Alabama increased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 237,965 shares of the company’s stock after buying an additional 157 shares during the period. Retirement Systems of Alabama’s holdings in Zoetis were worth $14,844,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. DAVENPORT & Co LLC boosted its stake in shares of Zoetis by 24.7% in the first quarter. DAVENPORT & Co LLC now owns 359,906 shares of the company’s stock valued at $19,231,000 after buying an additional 71,360 shares in the last quarter. Gladstone Capital Management LLP bought a new stake in shares of Zoetis during the second quarter valued at $3,134,000. Ameriprise Financial Inc. boosted its stake in shares of Zoetis by 21.1% in the first quarter. Ameriprise Financial Inc. now owns 1,614,416 shares of the company’s stock valued at $86,167,000 after buying an additional 281,139 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Zoetis by 19.8% in the first quarter. Harbour Capital Advisors LLC now owns 20,005 shares of the company’s stock valued at $1,068,000 after buying an additional 3,300 shares in the last quarter. Finally, Hermes Investment Management Ltd. boosted its stake in shares of Zoetis by 80.3% in the second quarter. Hermes Investment Management Ltd. now owns 236,350 shares of the company’s stock valued at $14,744,000 after buying an additional 105,276 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.
Shares of Zoetis Inc. (ZTS) opened at 60.00 on Wednesday. Zoetis Inc. has a 1-year low of $46.86 and a 1-year high of $63.85. The stock has a market cap of $29.45 billion, a P/E ratio of 34.88 and a beta of 1.02. The company has a 50 day moving average price of $62.59 and a 200 day moving average price of $57.66.
Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoetis had a return on equity of 65.35% and a net margin of 17.25%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Zoetis Inc. will post $2.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, June 15th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, June 13th. Zoetis’s payout ratio is presently 24.42%.
Several equities research analysts recently weighed in on ZTS shares. Deutsche Bank AG restated a “buy” rating and set a $65.00 target price (up from $62.00) on shares of Zoetis in a report on Monday, July 17th. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price target on shares of Zoetis in a research report on Thursday, May 4th. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, May 10th. Argus reaffirmed a “buy” rating and set a $69.00 price target (up previously from $60.00) on shares of Zoetis in a research report on Tuesday, May 30th. Finally, Hilliard Lyons started coverage on Zoetis in a research report on Tuesday, June 20th. They set a “buy” rating and a $77.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.78.
In other news, insider Catherine A. Knupp sold 5,785 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $60.16, for a total transaction of $348,025.60. Following the transaction, the insider now directly owns 24,415 shares of the company’s stock, valued at $1,468,806.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
Zoetis Company Profile
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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