Cadence Capital Management LLC Has $1.81 Million Stake in Zoetis Inc (ZTS)

Cadence Capital Management LLC cut its stake in shares of Zoetis Inc (NYSE:ZTS) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 reporting period.

Other institutional investors also recently made changes to their positions in the company. Keybank National Association OH grew its position in shares of Zoetis by 180.8% during the second quarter. Keybank National Association OH now owns 199,773 shares of the company’s stock worth $17,019,000 after buying an additional 128,634 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Zoetis by 7.0% in the second quarter. Chartwell Investment Partners LLC now owns 76,888 shares of the company’s stock valued at $6,550,000 after purchasing an additional 5,000 shares in the last quarter. Milestone Resources Group Ltd boosted its holdings in Zoetis by 2.2% in the third quarter. Milestone Resources Group Ltd now owns 1,089,644 shares of the company’s stock valued at $99,768,000 after purchasing an additional 23,730 shares in the last quarter. FMR LLC boosted its holdings in Zoetis by 26.3% in the second quarter. FMR LLC now owns 1,654,795 shares of the company’s stock valued at $140,972,000 after purchasing an additional 344,241 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $448,309,000 after purchasing an additional 422,856 shares in the last quarter. 89.68% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ZTS opened at $95.27 on Friday. The company has a debt-to-equity ratio of 3.04, a current ratio of 4.06 and a quick ratio of 2.63. Zoetis Inc has a twelve month low of $68.56 and a twelve month high of $96.57. The company 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 (NYSE:ZTS) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.06. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Zoetis Inc will post 3.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 20th will be paid a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, November 19th. Zoetis’s dividend payout ratio is currently 20.83%.

In other Zoetis news, insider Catherine A. Knupp sold 46,816 shares of the business’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 sale, the insider now owns 81,640 shares in the company, valued at $7,416,177.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Roxanne Lagano sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $92.03, for a total value of $184,060.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,507 shares of company stock valued at $32,579,830. 0.35% of the stock is owned by company insiders.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Zoetis from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $105.00 price target (up from $98.00) on shares of Zoetis in a report on Wednesday, October 17th. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, October 17th. Morgan Stanley set a $100.00 price target on Zoetis and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Tuesday, August 21st. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Zoetis currently has an average rating of “Buy” and a consensus price target of $93.19.

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Zoetis 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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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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