Zoetis Inc. (NYSE:ZTS) Position Reduced by Wellington Management Group LLP
Wellington Management Group LLP reduced its position in Zoetis Inc. (NYSE:ZTS) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,195 shares of the company’s stock after selling 11,266 shares during the period. Wellington Management Group LLP’s holdings in Zoetis were worth $5,187,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in ZTS. Prudential Financial Inc. increased its stake in Zoetis by 112.0% in the first quarter. Prudential Financial Inc. now owns 1,602,583 shares of the company’s stock worth $85,530,000 after buying an additional 846,710 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Zoetis by 821.5% in the first quarter. Public Employees Retirement Association of Colorado now owns 853,941 shares of the company’s stock worth $45,575,000 after buying an additional 761,272 shares during the period. State Treasurer State of Michigan boosted its position in shares of Zoetis by 90.8% in the first quarter. State Treasurer State of Michigan now owns 1,391,592 shares of the company’s stock worth $74,269,000 after buying an additional 662,100 shares during the period. First Quadrant L P CA boosted its position in shares of Zoetis by 12,182.1% in the first quarter. First Quadrant L P CA now owns 503,566 shares of the company’s stock worth $26,875,000 after buying an additional 499,466 shares during the period. Finally, Capital Fund Management S.A. bought a new position in shares of Zoetis during the first quarter worth approximately $26,655,000. Institutional investors own 95.22% of the company’s stock.
Shares of Zoetis Inc. (NYSE:ZTS) traded down 0.26% on Friday, hitting $62.12. The stock had a trading volume of 1,277,542 shares. The company’s 50 day moving average price is $62.59 and its 200-day moving average price is $57.66. The company has a market cap of $30.49 billion, a P/E ratio of 36.12 and a beta of 1.02. Zoetis Inc. has a 12 month low of $46.86 and a 12 month high of $63.85.
Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Zoetis had a return on equity of 65.35% and a net margin of 17.25%. Zoetis’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, analysts expect that Zoetis Inc. will post $2.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, June 15th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, June 13th. Zoetis’s dividend payout ratio (DPR) is presently 24.42%.
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A number of equities analysts have commented on ZTS shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Zoetis in a research note on Thursday, May 4th. Jefferies Group LLC boosted their target price on Zoetis from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Wednesday, May 10th. Credit Suisse Group boosted their target price on Zoetis from $61.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, May 24th. Finally, CL King initiated coverage on Zoetis in a research report on Friday, May 26th. They set a “buy” rating and a $71.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.47.
In related news, insider Catherine A. Knupp sold 5,785 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $60.16, for a total value of $348,025.60. Following the transaction, the insider now owns 24,415 shares of the company’s stock, valued at $1,468,806.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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