Zoetis Inc. (NYSE:ZTS)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a research note issued on Wednesday. They presently have a $60.00 price objective on the stock. BMO Capital Markets’ price objective suggests a potential upside of 7.22% from the company’s current price.
Several other equities analysts have also commented on ZTS. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 price target on shares of Zoetis in a research note on Wednesday, October 12th. Zacks Investment Research lowered Zoetis from a “hold” rating to a “sell” rating in a research note on Thursday, October 13th. Jefferies Group LLC reissued a “buy” rating and set a $63.00 target price on shares of Zoetis in a research note on Sunday, October 16th. Finally, J P Morgan Chase & Co reissued a “hold” rating and set a $53.00 target price on shares of Zoetis in a research note on Thursday, November 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.73.
Shares of Zoetis (NYSE:ZTS) traded down 0.04% during midday trading on Wednesday, hitting $55.96. The company had a trading volume of 2,888,874 shares. The firm has a market capitalization of $27.63 billion, a PE ratio of 40.35 and a beta of 1.07. Zoetis has a 12 month low of $38.26 and a 12 month high of $56.32. The company has a 50-day moving average of $54.08 and a 200 day moving average of $51.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, January 20th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, January 18th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Zoetis’s previous quarterly dividend of $0.10. Zoetis’s dividend payout ratio is presently 30.44%.
In related news, insider Kristin C. Peck sold 10,092 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.55, for a total value of $500,058.60. Following the completion of the sale, the insider now directly owns 22,768 shares of the company’s stock, valued at approximately $1,128,154.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds have recently made changes to their positions in ZTS. LS Investment Advisors LLC boosted its stake in shares of Zoetis by 25.2% in the second quarter. LS Investment Advisors LLC now owns 16,614 shares of the company’s stock worth $789,000 after buying an additional 3,349 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Zoetis during the second quarter worth about $587,000. Henderson Group PLC boosted its stake in shares of Zoetis by 1.7% in the second quarter. Henderson Group PLC now owns 73,089 shares of the company’s stock worth $3,468,000 after buying an additional 1,200 shares during the period. Nordea Investment Management AB boosted its stake in shares of Zoetis by 0.7% in the second quarter. Nordea Investment Management AB now owns 24,432 shares of the company’s stock worth $1,160,000 after buying an additional 163 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Zoetis by 0.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 6,730 shares of the company’s stock worth $319,000 after buying an additional 26 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a diversified business, marketing products across over eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock), and dogs, cats and horses (collectively, companion animals), and within over five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.