Concorde Asset Management LLC grew its stake in Zoetis Inc. (NYSE:ZTS) by 16.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,933 shares of the company’s stock after buying an additional 710 shares during the quarter. Concorde Asset Management LLC’s holdings in Zoetis were worth $816,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Hoover Financial Advisors Inc. acquired a new stake in shares of Zoetis in the second quarter worth about $27,000. Lipe & Dalton bought a new position in shares of Zoetis in the second quarter worth about $30,000. Demars Financial Group LLC bought a new position in shares of Zoetis in the second quarter worth about $30,000. Campbell Wealth Management bought a new position in shares of Zoetis in the second quarter worth about $34,000. Finally, Newfound Research LLC bought a new position in shares of Zoetis in the third quarter worth about $34,000. 92.50% of the stock is owned by institutional investors.
ZTS has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on Zoetis from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Gabelli lowered Zoetis from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. They noted that the move was a valuation call. G.Research lowered Zoetis from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their price objective on Zoetis from $125.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 20th. Finally, Bank of America boosted their price target on Zoetis from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $155.14.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.25. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.35 billion. Zoetis had a return on equity of 63.89% and a net margin of 25.50%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. Equities research analysts expect that Zoetis Inc. will post 3.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, October 21st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Tuesday, October 20th. Zoetis’s payout ratio is 21.98%.
In other news, EVP Heidi C. Chen sold 1,179 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $152.19, for a total value of $179,432.01. Following the transaction, the executive vice president now directly owns 17,514 shares of the company’s stock, valued at approximately $2,665,455.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Catherine A. Knupp sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $158.86, for a total value of $2,065,180.00. Following the completion of the transaction, the executive vice president now directly owns 53,368 shares in the company, valued at $8,478,040.48. The disclosure for this sale can be found here. Insiders have sold 36,009 shares of company stock worth $5,720,053 over the last ninety days. Company insiders own 0.17% of the company’s stock.
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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