Davidson Investment Advisors lifted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 18.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,849 shares of the company’s stock after purchasing an additional 29,047 shares during the period. Zoetis comprises about 1.3% of Davidson Investment Advisors’ investment portfolio, making the stock its 24th biggest holding. Davidson Investment Advisors’ holdings in Zoetis were worth $11,977,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ZTS. Dynamic Technology Lab Private Ltd lifted its holdings in Zoetis by 7.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,901 shares of the company’s stock worth $368,000 after acquiring an additional 401 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Zoetis by 8.2% in the second quarter. Wells Fargo & Company MN now owns 5,113,948 shares of the company’s stock worth $319,008,000 after acquiring an additional 389,260 shares during the last quarter. Swiss National Bank lifted its holdings in Zoetis by 8.1% in the second quarter. Swiss National Bank now owns 1,796,380 shares of the company’s stock worth $112,058,000 after acquiring an additional 133,900 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in Zoetis by 55.5% in the second quarter. Balyasny Asset Management LLC now owns 44,330 shares of the company’s stock worth $2,765,000 after acquiring an additional 15,830 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Zoetis by 13.9% in the second quarter. Victory Capital Management Inc. now owns 277,641 shares of the company’s stock worth $17,320,000 after acquiring an additional 33,894 shares during the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zoetis Inc. (ZTS) traded down $0.29 during trading hours on Thursday, hitting $71.07. 1,437,200 shares of the company’s stock traded hands, compared to its average volume of 2,797,462. Zoetis Inc. has a 12 month low of $48.55 and a 12 month high of $72.14. The firm has a market capitalization of $34,772.89, a price-to-earnings ratio of 32.73, a P/E/G ratio of 2.10 and a beta of 1.02. The company has a quick ratio of 1.95, a current ratio of 2.80 and a debt-to-equity ratio of 2.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.42 annualized dividend and a dividend yield of 0.59%. Zoetis’s payout ratio is currently 22.11%.
A number of equities analysts have issued reports on the stock. Cowen and Company set a $80.00 target price on shares of Zoetis and gave the stock a “buy” rating in a report on Friday, November 17th. Jefferies Group LLC reissued a “buy” rating on shares of Zoetis in a report on Friday, November 10th. BidaskClub raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. BMO Capital Markets raised their target price on shares of Zoetis from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, November 3rd. Finally, Morgan Stanley raised their target price on shares of Zoetis from $61.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Zoetis presently has a consensus rating of “Buy” and an average price target of $67.65.
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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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