Prudential Financial Inc. Has $135.95 Million Position in Zoetis Inc. (ZTS)
Prudential Financial Inc. lowered its holdings in Zoetis Inc. (NYSE:ZTS) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,132,243 shares of the company’s stock after selling 274,320 shares during the quarter. Prudential Financial Inc. owned 0.44% of Zoetis worth $135,952,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Ironwood Investment Management LLC grew its stake in Zoetis by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 6,870 shares of the company’s stock worth $429,000 after buying an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Zoetis by 1.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,201 shares of the company’s stock worth $262,000 after buying an additional 55 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its stake in Zoetis by 1.8% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,682 shares of the company’s stock worth $354,000 after buying an additional 98 shares during the last quarter. First Manhattan Co. grew its stake in Zoetis by 1.1% during the second quarter. First Manhattan Co. now owns 9,099 shares of the company’s stock worth $567,000 after buying an additional 99 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in Zoetis by 1.3% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,795 shares of the company’s stock worth $486,000 after buying an additional 100 shares during the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zoetis Inc. (NYSE:ZTS) traded up $1.02 during midday trading on Tuesday, reaching $69.71. 3,884,094 shares of the company traded hands, compared to its average volume of 2,410,000. Zoetis Inc. has a fifty-two week low of $48.24 and a fifty-two week high of $70.48. The firm has a market capitalization of $33,580.00, a price-to-earnings ratio of 31.51, a P/E/G ratio of 2.02 and a beta of 1.02. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.80 and a quick ratio of 1.95.
Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Zoetis had a net margin of 18.29% and a return on equity of 62.39%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Zoetis’s revenue was up 8.5% compared to the same quarter last year. equities research analysts anticipate that Zoetis Inc. will post 2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a $0.105 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.42 annualized dividend and a yield of 0.60%. Zoetis’s dividend payout ratio is currently 22.11%.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Thursday, October 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $75.00 price objective on shares of Zoetis in a research note on Wednesday, September 6th. BidaskClub cut shares of Zoetis from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Morgan Stanley upped their price objective on shares of Zoetis from $61.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Zoetis in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.06.
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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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