Skandinaviska Enskilda Banken AB publ reduced its position in shares of Zoetis Inc (NYSE:ZTS) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 525,350 shares of the company’s stock after selling 65,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.11% of Zoetis worth $48,101,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Sun Life Financial INC raised its stake in Zoetis by 604.3% during the 2nd quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock worth $112,000 after buying an additional 1,124 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in Zoetis during the 3rd quarter worth approximately $112,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Zoetis by 3,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock worth $120,000 after buying an additional 1,365 shares during the period. Fort L.P. acquired a new position in Zoetis during the 2nd quarter worth approximately $121,000. Finally, Lenox Wealth Advisors LLC raised its stake in Zoetis by 259.4% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 1,682 shares of the company’s stock worth $143,000 after buying an additional 1,214 shares during the period. 89.68% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Catherine A. Knupp sold 46,816 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $90.84, for a total value of $4,252,765.44. Following the completion of the transaction, the insider now directly owns 81,640 shares of the company’s stock, valued at $7,416,177.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn David sold 16,385 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $92.20, for a total value of $1,510,697.00. Following the completion of the transaction, the chief financial officer now directly owns 29,234 shares of the company’s stock, valued at $2,695,374.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,201 shares of company stock valued at $18,306,772. 0.35% of the stock is currently owned by corporate insiders.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. Zoetis’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Analysts expect that Zoetis Inc will post 3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be issued a $0.126 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, November 19th. Zoetis’s dividend payout ratio is presently 20.83%.
ZTS has been the topic of a number of research reports. JPMorgan Chase & Co. raised Zoetis from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research note on Monday, October 15th. Cantor Fitzgerald reissued a “buy” rating and set a $98.00 price objective on shares of Zoetis in a report on Monday, October 1st. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a report on Tuesday, August 21st. They noted that the move was a valuation call. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Monday, September 10th. Finally, Morgan Stanley set a $100.00 price objective on Zoetis and gave the stock a “hold” rating in a report on Friday, November 2nd. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $93.19.
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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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