Zoetis Inc. (ZTS) Shares Bought by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD increased its position in Zoetis Inc. (NYSE:ZTS) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 220,918 shares of the company’s stock after buying an additional 468 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Zoetis were worth $10,484,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Henderson Group PLC increased its stake in Zoetis by 1.7% in the second quarter. Henderson Group PLC now owns 73,089 shares of the company’s stock worth $3,468,000 after buying an additional 1,200 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Zoetis during the second quarter worth approximately $587,000. LMR Partners LLP bought a new stake in Zoetis during the second quarter worth approximately $1,747,000. Comgest Global Investors S.A.S. increased its stake in Zoetis by 3.5% in the second quarter. Comgest Global Investors S.A.S. now owns 41,400 shares of the company’s stock worth $1,965,000 after buying an additional 1,400 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in 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 in the last quarter. 93.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zoetis Inc. (NYSE:ZTS) traded down 0.30% during trading on Monday, reaching $50.03. 2,644,607 shares of the company traded hands. Zoetis Inc. has a 12 month low of $38.26 and a 12 month high of $53.14. The firm has a 50-day moving average price of $51.25 and a 200-day moving average price of $49.01. The firm has a market capitalization of $24.77 billion, a PE ratio of 38.96 and a beta of 1.00.
Zoetis (NYSE:ZTS) last released its earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Zoetis had a net margin of 13.15% and a return on equity of 77.58%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company earned $0.43 EPS. Zoetis’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Zoetis Inc. will post $1.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.38 annualized dividend and a dividend yield of 0.76%. Zoetis’s dividend payout ratio (DPR) is 29.69%.
A number of research firms recently commented on ZTS. Jefferies Group reissued a “buy” rating and set a $63.00 price objective on shares of Zoetis in a report on Sunday. Zacks Investment Research downgraded shares of Zoetis from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $58.00 price objective on shares of Zoetis in a report on Wednesday, October 12th. Bank of America Corp. assumed coverage on shares of Zoetis in a report on Thursday, September 29th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Argus upped their price target on shares of Zoetis from $54.00 to $58.00 and gave the company a “below average” rating in a report on Friday, September 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Zoetis has an average rating of “Buy” and an average price target of $55.50.
In other news, insider Heidi C. Chen sold 32,097 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $50.98, for a total transaction of $1,636,305.06. Following the completion of the transaction, the insider now owns 46,060 shares in the company, valued at approximately $2,348,138.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Mccallister acquired 2,000 shares of Zoetis stock in a transaction dated Tuesday, September 6th. The shares were acquired at an average price of $51.34 per share, with a total value of $102,680.00. The disclosure for this purchase can be found here. Insiders own 0.05% 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 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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