Zoetis Inc (ZTS) Stake Increased by Independent Advisor Alliance
Independent Advisor Alliance raised its position in Zoetis Inc (NYSE:ZTS) by 43.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,708 shares of the company’s stock after acquiring an additional 1,731 shares during the period. Independent Advisor Alliance’s holdings in Zoetis were worth $364,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Zoetis by 3.9% in the 2nd quarter. BlackRock Inc. now owns 37,495,299 shares of the company’s stock worth $2,338,957,000 after acquiring an additional 1,412,829 shares during the period. Vanguard Group Inc. lifted its stake in shares of Zoetis by 2.8% in the second quarter. Vanguard Group Inc. now owns 33,654,686 shares of the company’s stock valued at $2,099,379,000 after purchasing an additional 910,265 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Zoetis by 55.4% in the second quarter. Alliancebernstein L.P. now owns 10,370,388 shares of the company’s stock valued at $646,905,000 after purchasing an additional 3,695,449 shares during the period. American Century Companies Inc. lifted its stake in shares of Zoetis by 7.2% in the second quarter. American Century Companies Inc. now owns 6,207,974 shares of the company’s stock valued at $387,253,000 after purchasing an additional 417,455 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Zoetis by 1.5% in the third quarter. Janus Henderson Group PLC now owns 5,893,853 shares of the company’s stock valued at $375,792,000 after purchasing an additional 84,767 shares during the period. Institutional investors own 93.33% of the company’s stock.
Several analysts recently commented on the stock. Cantor Fitzgerald set a $80.00 price objective on shares of Zoetis and gave the company a “buy” rating in a research note on Tuesday. BidaskClub cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 20th. UBS reiterated a “neutral” rating on shares of Zoetis in a research note on Friday, November 24th. BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Zoetis in a research note on Thursday, November 2nd. Finally, Morgan Stanley raised their target price on shares of Zoetis from $61.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.53.
Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. analysts expect that Zoetis Inc will post 2.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, January 19th will be issued a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.70%. This is an increase from Zoetis’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, January 18th. Zoetis’s payout ratio is presently 22.11%.
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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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