Red Spruce Capital LLC Makes New $390,000 Investment in Zoetis Inc (NYSE:ZTS)
Red Spruce Capital LLC bought a new position in shares of Zoetis Inc (NYSE:ZTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,943 shares of the company’s stock, valued at approximately $390,000.
A number of other institutional investors also recently bought and sold shares of the business. Prestige Wealth Management Group LLC purchased a new stake in shares of Zoetis during the 2nd quarter valued at $27,000. Tarbox Family Office Inc. lifted its holdings in shares of Zoetis by 74.4% during the 3rd quarter. Tarbox Family Office Inc. now owns 218 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Zoetis during the 3rd quarter valued at $31,000. Corbenic Partners LLC purchased a new stake in shares of Zoetis during the 4th quarter valued at $31,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Zoetis during the 3rd quarter valued at $33,000. Institutional investors own 89.96% of the company’s stock.
Several brokerages have recently commented on ZTS. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Thursday, December 26th. Bank of America reiterated a “hold” rating and set a $125.00 price objective on shares of Zoetis in a report on Thursday, December 5th. Raymond James began coverage on Zoetis in a report on Thursday, January 9th. They set a “market perform” rating for the company. Morgan Stanley increased their price objective on Zoetis from $100.00 to $136.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Credit Suisse Group set a $138.00 price objective on Zoetis and gave the company a “buy” rating in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $127.47.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. Zoetis had a return on equity of 70.78% and a net margin of 23.76%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that Zoetis Inc will post 3.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, January 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. This is an increase from Zoetis’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, January 16th. Zoetis’s dividend payout ratio is presently 21.09%.
In other Zoetis news, EVP Clinton A. Jr. Lewis sold 6,123 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.93, for a total transaction of $764,946.39. Following the sale, the executive vice president now directly owns 34,027 shares of the company’s stock, valued at approximately $4,250,993.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew Fenton sold 12,705 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $120.30, for a total value of $1,528,411.50. Following the sale, the executive vice president now directly owns 21,530 shares in the company, valued at $2,590,059. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,917 shares of company stock worth $14,797,192. 0.29% of the stock is owned by insiders.
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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