Avestar Capital LLC reduced its stake in Zoetis Inc (NYSE:ZTS) by 4.4% in the second quarter, HoldingsChannel reports. The fund owned 1,720 shares of the company’s stock after selling 80 shares during the quarter. Avestar Capital LLC’s holdings in Zoetis were worth $236,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its stake in Zoetis by 1.0% during the first quarter. State Street Corp now owns 20,073,288 shares of the company’s stock valued at $2,362,425,000 after purchasing an additional 190,066 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Zoetis by 1.6% during the first quarter. Alliancebernstein L.P. now owns 14,182,470 shares of the company’s stock valued at $1,669,135,000 after purchasing an additional 228,082 shares during the last quarter. Copper Rock Capital Partners LLC lifted its stake in Zoetis by 6,026.7% during the second quarter. Copper Rock Capital Partners LLC now owns 8,331,273 shares of the company’s stock valued at $1,081,569,000 after purchasing an additional 8,195,290 shares during the last quarter. Sands Capital Management LLC lifted its stake in Zoetis by 7.9% during the first quarter. Sands Capital Management LLC now owns 6,007,652 shares of the company’s stock valued at $707,041,000 after purchasing an additional 441,042 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Zoetis by 66.2% during the first quarter. Capital Research Global Investors now owns 3,627,340 shares of the company’s stock valued at $426,902,000 after purchasing an additional 1,444,228 shares during the last quarter. 91.42% of the stock is owned by institutional investors and hedge funds.
Shares of ZTS stock opened at $151.68 on Friday. Zoetis Inc has a 52-week low of $90.14 and a 52-week high of $151.91. The stock has a market cap of $70.82 billion, a price-to-earnings ratio of 40.19, a P/E/G ratio of 4.85 and a beta of 0.77. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.91 and a current ratio of 2.77. The firm has a fifty day moving average of $138.92 and a 200-day moving average of $132.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, July 16th. Zoetis’s dividend payout ratio is 21.98%.
ZTS has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Zoetis from $146.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Bank of America upped their price objective on shares of Zoetis from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Barclays upped their price objective on shares of Zoetis from $129.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $147.00 price objective on shares of Zoetis in a report on Monday, May 18th. Finally, Argus reaffirmed a “buy” rating on shares of Zoetis in a report on Wednesday, June 3rd. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Zoetis presently has a consensus rating of “Buy” and a consensus target price of $143.79.
In related news, CEO Kristin C. Peck sold 10,500 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $131.31, for a total transaction of $1,378,755.00. Following the completion of the sale, the chief executive officer now owns 43,759 shares in the company, valued at approximately $5,745,994.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roxanne Lagano sold 4,463 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $131.02, for a total transaction of $584,742.26. Following the sale, the executive vice president now owns 40,143 shares of the company’s stock, valued at approximately $5,259,535.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,321 shares of company stock valued at $2,288,831. Corporate 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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