Allen Investment Management LLC lowered its position in Zoetis Inc. (NYSE:ZTS) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 12,765 shares of the company’s stock after selling 38 shares during the period. Allen Investment Management LLC’s holdings in Zoetis were worth $664,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its stake in Zoetis by 7.5% in the third quarter. Assetmark Inc. now owns 1,930 shares of the company’s stock worth $100,000 after buying an additional 134 shares during the period. Kelly Lawrence W & Associates Inc. CA increased its stake in Zoetis by 113.4% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,446 shares of the company’s stock worth $116,000 after buying an additional 1,300 shares during the period. Penserra Capital Management LLC increased its stake in Zoetis by 94.6% in the third quarter. Penserra Capital Management LLC now owns 2,720 shares of the company’s stock worth $140,000 after buying an additional 1,322 shares during the period. Evercore Wealth Management LLC increased its stake in Zoetis by 12.0% in the second quarter. Evercore Wealth Management LLC now owns 3,402 shares of the company’s stock worth $161,000 after buying an additional 365 shares during the period. Finally, NEXT Financial Group Inc increased its stake in Zoetis by 47.0% in the third quarter. NEXT Financial Group Inc now owns 3,139 shares of the company’s stock worth $163,000 after buying an additional 1,003 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.
Zoetis Inc. (NYSE:ZTS) opened at 55.73 on Friday. The stock’s 50 day moving average price is $54.29 and its 200 day moving average price is $51.66. Zoetis Inc. has a 1-year low of $39.35 and a 1-year high of $56.50. The stock has a market capitalization of $27.52 billion, a PE ratio of 40.18 and a beta of 1.07.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, January 20th will be paid a dividend of $0.105 per share. The ex-dividend date is Wednesday, January 18th. This is an increase from Zoetis’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.75%. Zoetis’s dividend payout ratio (DPR) is 30.44%.
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ZTS has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $62.00 target price on shares of Zoetis in a research report on Tuesday, December 20th. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, November 7th. Deutsche Bank AG began coverage on shares of Zoetis in a research report on Tuesday, December 20th. They set a “buy” rating and a $62.00 target price for the company. Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of Zoetis in a report on Friday, December 23rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $60.00 price target on shares of Zoetis in a report on Wednesday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.73.
In other news, insider Kristin C. Peck sold 10,092 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.55, for a total transaction of $500,058.60. Following the completion of the sale, the insider now directly owns 22,768 shares of the company’s stock, valued at approximately $1,128,154.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.
Zoetis Company Profile
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 diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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