Permanens Capital L.P. purchased a new position in Zoetis Inc (NYSE:ZTS) in the first quarter, Holdings Channel reports. The fund purchased 4,000 shares of the company’s stock, valued at approximately $334,000. Zoetis makes up about 0.1% of Permanens Capital L.P.’s portfolio, making the stock its 16th biggest holding.
Other large investors also recently modified their holdings of the company. We Are One Seven LLC acquired a new position in Zoetis in the fourth quarter worth $120,000. Premia Global Advisors LLC acquired a new position in Zoetis in the fourth quarter worth $122,000. Icon Wealth Partners LLC acquired a new position in Zoetis in the fourth quarter worth $127,000. Mckinley Capital Management LLC Delaware acquired a new position in Zoetis in the first quarter worth $134,000. Finally, Advisory Services Network LLC boosted its holdings in Zoetis by 42.4% in the fourth quarter. Advisory Services Network LLC now owns 2,423 shares of the company’s stock worth $175,000 after purchasing an additional 721 shares during the period. Institutional investors and hedge funds own 90.12% of the company’s stock.
In related news, insider Heidi C. Chen sold 7,383 shares of Zoetis stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $84.71, for a total transaction of $625,413.93. Following the sale, the insider now directly owns 20,162 shares in the company, valued at $1,707,923.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kristin C. Peck sold 4,877 shares of Zoetis stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $83.46, for a total transaction of $407,034.42. Following the sale, the insider now owns 42,652 shares in the company, valued at $3,559,735.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,277 shares of company stock worth $1,033,899. Company insiders own 0.35% of the company’s stock.
Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Zoetis had a net margin of 17.97% and a return on equity of 68.51%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. analysts anticipate that Zoetis Inc will post 3.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Friday, July 20th will be paid a dividend of $0.126 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, July 19th. Zoetis’s dividend payout ratio is currently 20.83%.
A number of equities analysts have commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $98.00 price objective (up previously from $85.00) on shares of Zoetis in a report on Thursday, April 19th. Hilliard Lyons downgraded shares of Zoetis to a “neutral” rating in a report on Thursday, April 19th. They noted that the move was a valuation call. Cantor Fitzgerald set a $90.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a report on Tuesday, April 24th. Morgan Stanley downgraded shares of Zoetis from an “overweight” rating to an “equal weight” rating and set a $70.00 price objective for the company. in a report on Monday, March 19th. They noted that the move was a valuation call. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $94.00 price objective (up previously from $87.00) on shares of Zoetis in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.25.
Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines 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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