Twin Capital Management Inc. Purchases 1,726 Shares of Zoetis Inc (ZTS)
Twin Capital Management Inc. raised its position in Zoetis Inc (NYSE:ZTS) by 23.1% during the third quarter, HoldingsChannel reports. The firm owned 9,202 shares of the company’s stock after buying an additional 1,726 shares during the quarter. Twin Capital Management Inc.’s holdings in Zoetis were worth $843,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in Zoetis in the third quarter valued at about $112,000. Sun Life Financial INC lifted its position in shares of Zoetis by 604.3% in the second quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock worth $112,000 after buying an additional 1,124 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Zoetis by 3,033.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock worth $120,000 after buying an additional 1,365 shares during the last quarter. Fort L.P. acquired a new stake in shares of Zoetis in the second quarter worth about $121,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Zoetis in the third quarter worth about $146,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
In related news, insider Roxanne Lagano sold 2,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $92.03, for a total transaction of $184,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristin C. Peck sold 11,500 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $94.78, for a total value of $1,089,970.00. The disclosure for this sale can be found here. Insiders have sold a total of 163,806 shares of company stock valued at $15,547,088 in the last three months. 0.35% of the stock is owned by insiders.
Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts expect that Zoetis Inc will post 3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 20th will be given a dividend of $0.126 per share. The ex-dividend date is Monday, November 19th. This represents a $0.50 annualized dividend and a dividend yield of 0.55%. Zoetis’s dividend payout ratio is presently 20.83%.
A number of analysts have weighed in on ZTS shares. Cantor Fitzgerald set a $98.00 price target on Zoetis and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus boosted their price target on Zoetis from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Morgan Stanley boosted their price target on Zoetis from $87.00 to $92.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Zoetis in a research report on Sunday, November 11th. Finally, Argus set a $105.00 price target on Zoetis and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $94.00.
Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.
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