Zoetis Inc. (ZTS) Shares Sold by Fred Alger Management Inc.
Fred Alger Management Inc. trimmed its position in Zoetis Inc. (NYSE:ZTS) by 53.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 242,028 shares of the company’s stock after selling 281,987 shares during the period. Fred Alger Management Inc.’s holdings in Zoetis were worth $15,098,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in shares of Zoetis by 8.2% during the 2nd quarter. Wells Fargo & Company MN now owns 5,113,948 shares of the company’s stock worth $319,008,000 after purchasing an additional 389,260 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Zoetis by 8.1% during the 2nd quarter. Swiss National Bank now owns 1,796,380 shares of the company’s stock worth $112,058,000 after purchasing an additional 133,900 shares during the last quarter. Gladstone Capital Management LLP acquired a new position in shares of Zoetis during the 2nd quarter worth approximately $3,134,000. Victory Capital Management Inc. boosted its holdings in shares of Zoetis by 13.9% during the 2nd quarter. Victory Capital Management Inc. now owns 277,641 shares of the company’s stock worth $17,320,000 after purchasing an additional 33,894 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Zoetis by 3.9% during the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after purchasing an additional 1,412,829 shares during the last quarter. Institutional investors own 93.20% of the company’s stock.
ZTS has been the topic of several recent research reports. BidaskClub upgraded Zoetis from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Deutsche Bank AG restated a “buy” rating and set a $65.00 target price (up from $62.00) on shares of Zoetis in a report on Monday, July 17th. Cantor Fitzgerald restated a “buy” rating and set a $75.00 target price on shares of Zoetis in a report on Wednesday, September 6th. Stifel Nicolaus restated a “buy” rating and set a $65.00 target price on shares of Zoetis in a report on Friday, September 1st. Finally, Zacks Investment Research cut Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.44.
Zoetis Inc. (NYSE:ZTS) opened at 63.77 on Friday. Zoetis Inc. has a 12-month low of $46.86 and a 12-month high of $65.83. The company has a 50-day moving average price of $63.33 and a 200-day moving average price of $60.42. The firm has a market capitalization of $31.19 billion, a PE ratio of 36.05 and a beta of 1.02.
Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 8th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $0.49 earnings per share. Zoetis’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Zoetis Inc. will post $2.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.66%. Zoetis’s dividend payout ratio (DPR) is currently 23.73%.
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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