Bank of Nova Scotia increased its position in Zoetis Inc (NYSE:ZTS) by 190.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 343,738 shares of the company’s stock after purchasing an additional 225,574 shares during the period. Bank of Nova Scotia owned 0.07% of Zoetis worth $29,399,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. grew its stake in Zoetis by 3.2% in the fourth quarter. Whittier Trust Co. now owns 4,039 shares of the company’s stock worth $345,000 after purchasing an additional 124 shares during the period. North Star Investment Management Corp. grew its stake in Zoetis by 0.6% in the fourth quarter. North Star Investment Management Corp. now owns 22,525 shares of the company’s stock worth $1,927,000 after purchasing an additional 125 shares during the period. Sandy Spring Bank grew its stake in Zoetis by 0.4% in the fourth quarter. Sandy Spring Bank now owns 29,716 shares of the company’s stock worth $2,542,000 after purchasing an additional 125 shares during the period. InterOcean Capital LLC grew its stake in Zoetis by 5.0% in the fourth quarter. InterOcean Capital LLC now owns 2,945 shares of the company’s stock worth $252,000 after purchasing an additional 139 shares during the period. Finally, Harvest Management LLC grew its stake in shares of Zoetis by 8.0% in the fourth quarter. Harvest Management LLC now owns 2,700 shares of the company’s stock worth $231,000 after acquiring an additional 200 shares during the last quarter. 89.45% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on ZTS shares. Zacks Investment Research cut Zoetis from a “buy” rating to a “hold” rating in a research note on Sunday, January 6th. UBS Group started coverage on Zoetis in a research note on Wednesday, January 23rd. They issued a “neutral” rating and a $86.00 target price on the stock. Morgan Stanley set a $100.00 target price on Zoetis and gave the stock a “hold” rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. increased their target price on Zoetis from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, BMO Capital Markets increased their target price on Zoetis to $93.00 and gave the stock a “neutral” rating in a research note on Monday, November 12th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $97.69.
NYSE ZTS opened at $94.23 on Friday. The firm has a market capitalization of $45.11 billion, a PE ratio of 30.11, a P/E/G ratio of 1.72 and a beta of 0.88. The company has a debt-to-equity ratio of 2.95, a quick ratio of 2.46 and a current ratio of 3.60. Zoetis Inc has a 12 month low of $77.00 and a 12 month high of $96.57.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. Zoetis had a return on equity of 73.85% and a net margin of 24.51%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. As a group, equities analysts anticipate that Zoetis Inc will post 3.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, April 18th will be issued a dividend of $0.164 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, April 17th. Zoetis’s payout ratio is currently 21.09%.
Zoetis declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Heidi C. Chen sold 2,500 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $93.51, for a total transaction of $233,775.00. Following the transaction, the insider now directly owns 17,662 shares of the company’s stock, valued at $1,651,573.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $85.30, for a total value of $170,600.00. Following the transaction, the executive vice president now directly owns 22,023 shares in the company, valued at $1,878,561.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,250 shares of company stock worth $2,658,226. Corporate insiders own 0.35% of the company’s stock.
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Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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