Northern Trust Corp Acquires 78,508 Shares of Zoetis Inc. $ZTS
by Mitch Edgeman · The Markets DailyNorthern Trust Corp lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS – Free Report) by 1.2% in the first quarter, Holdings Channel.com reports. The fund owned 6,504,902 shares of the company’s stock after purchasing an additional 78,508 shares during the quarter. Northern Trust Corp’s holdings in Zoetis were worth $1,071,032,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Navigoe LLC bought a new position in shares of Zoetis during the 4th quarter worth about $30,000. Cornerstone Planning Group LLC lifted its holdings in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company’s stock worth $42,000 after acquiring an additional 120 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC lifted its holdings in shares of Zoetis by 614.6% during the 1st quarter. Bfsg LLC now owns 293 shares of the company’s stock worth $48,000 after acquiring an additional 252 shares during the period. 92.80% of the stock is owned by institutional investors.
Insider Activity at Zoetis
In other news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.
Zoetis Trading Down 1.2%
ZTS opened at $152.28 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $67.49 billion, a PE ratio of 26.21, a PEG ratio of 2.47 and a beta of 0.88. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The firm has a 50-day moving average price of $154.69 and a two-hundred day moving average price of $158.90.
Zoetis (NYSE:ZTS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.
Zoetis Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Zoetis’s payout ratio is currently 34.42%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partnrs downgraded shares of Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. UBS Group cut their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Piper Sandler lifted their price target on shares of Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, August 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Zoetis currently has an average rating of “Moderate Buy” and a consensus price target of $202.43.
View Our Latest Research Report on Zoetis
Zoetis Company Profile
Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.
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