Cadence Capital Management LLC Has $1.81 Million Stake in Zoetis Inc (ZTS)
Cadence Capital Management LLC lessened its stake in shares of Zoetis Inc (NYSE:ZTS) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,785 shares of the company’s stock after selling 657 shares during the quarter. Cadence Capital Management LLC’s holdings in Zoetis were worth $1,812,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Polen Capital Management LLC raised its position in Zoetis by 3.9% in the second quarter. Polen Capital Management LLC now owns 9,295,080 shares of the company’s stock worth $791,848,000 after acquiring an additional 351,447 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Zoetis by 1.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,692,247 shares of the company’s stock worth $704,302,000 after acquiring an additional 119,154 shares in the last quarter. Wells Fargo & Company MN raised its position in Zoetis by 9.1% in the second quarter. Wells Fargo & Company MN now owns 6,375,146 shares of the company’s stock worth $543,099,000 after acquiring an additional 529,666 shares in the last quarter. Janus Henderson Group PLC raised its position in Zoetis by 22.3% in the second quarter. Janus Henderson Group PLC now owns 5,410,040 shares of the company’s stock worth $460,890,000 after acquiring an additional 985,586 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Zoetis by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 5,262,461 shares of the company’s stock worth $448,309,000 after acquiring an additional 422,856 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.
Zoetis stock opened at $95.27 on Friday. The company has a current ratio of 4.06, a quick ratio of 2.63 and a debt-to-equity ratio of 3.04. The firm has a market capitalization of $44.57 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 1.83 and a beta of 0.97. Zoetis Inc has a fifty-two week low of $68.56 and a fifty-two week high of $96.57.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 20th will be paid a dividend of $0.126 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, November 19th. Zoetis’s payout ratio is currently 20.83%.
ZTS has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $98.00 price objective on shares of Zoetis in a research report on Monday, October 1st. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Monday, September 10th. Bank of America increased their price objective on Zoetis from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Jefferies Financial Group set a $96.00 price objective on Zoetis and gave the stock a “buy” rating in a research report on Friday, July 13th. Finally, Stifel Nicolaus increased their price objective on Zoetis from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Zoetis currently has an average rating of “Buy” and an average target price of $93.19.
In related news, insider Roxanne Lagano sold 2,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.03, for a total transaction of $184,060.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Juan Ramon Alaix sold 150,306 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $94.96, for a total value of $14,273,057.76. Following the sale, the chief executive officer now directly owns 246,319 shares in the company, valued at approximately $23,390,452.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 350,507 shares of company stock worth $32,579,830. Corporate insiders own 0.35% of the company’s stock.
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Zoetis Company Profile
Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.
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