Zoetis Inc. (ZTS) Announces $0.10 Quarterly Dividend
Zoetis Inc. (NYSE:ZTS) announced a quarterly dividend on Friday, October 7th. Investors of record on Thursday, November 3rd will be given a dividend of 0.095 per share on Thursday, December 1st. This represents a $0.38 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, November 1st.
Shares of Zoetis (NYSE:ZTS) opened at 51.85 on Monday. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 40.38 and a beta of 1.01. Zoetis has a 12-month low of $38.26 and a 12-month high of $52.64. The company’s 50-day moving average price is $51.24 and its 200 day moving average price is $48.75.
Zoetis (NYSE:ZTS) last announced its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The business earned $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. Zoetis had a return on equity of 77.58% and a net margin of 13.15%. Zoetis’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. Equities analysts predict that Zoetis will post $1.91 earnings per share for the current year.
In related news, Director Michael B. Mccallister purchased 2,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was acquired at an average price of $51.34 per share, for a total transaction of $102,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Fenton sold 13,870 shares of Zoetis stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $51.25, for a total value of $710,837.50. Following the transaction, the insider now owns 17,719 shares of the company’s stock, valued at approximately $908,098.75. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ZTS. Marshall Wace LLP increased its position in shares of Zoetis by 1.9% in the second quarter. Marshall Wace LLP now owns 9,159,978 shares of the company’s stock worth $434,733,000 after buying an additional 173,902 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Zoetis by 114.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,738,248 shares of the company’s stock worth $414,717,000 after buying an additional 4,656,765 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Zoetis by 12.5% in the second quarter. TIAA CREF Investment Management LLC now owns 6,860,664 shares of the company’s stock worth $325,607,000 after buying an additional 764,884 shares during the last quarter. American Century Companies Inc. increased its position in shares of Zoetis by 2.5% in the second quarter. American Century Companies Inc. now owns 4,140,302 shares of the company’s stock worth $196,499,000 after buying an additional 102,941 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Zoetis by 0.4% in the second quarter. BlackRock Group LTD now owns 4,026,693 shares of the company’s stock worth $191,106,000 after buying an additional 14,046 shares during the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.
ZTS has been the subject of several analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Zoetis in a research report on Wednesday, September 14th. Bank of America Corp. initiated coverage on Zoetis in a research report on Thursday, September 29th. They set a “buy” rating and a $60.00 target price for the company. Zacks Investment Research lowered Zoetis from a “buy” rating to a “hold” rating in a research report on Thursday. Guggenheim reissued a “positive” rating and issued a $60.00 price objective on shares of Zoetis in a research report on Monday, August 22nd. Finally, Citigroup Inc. lifted their price objective on Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.27.
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 diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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