CIBC World Markets Inc. Raises Position in Zoetis Inc (ZTS)

CIBC World Markets Inc. increased its position in shares of Zoetis Inc (NYSE:ZTS) by 20.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 170,238 shares of the company’s stock after purchasing an additional 29,073 shares during the period. CIBC World Markets Inc.’s holdings in Zoetis were worth $15,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Zoetis during the third quarter worth approximately $112,000. Sun Life Financial INC increased its position in shares of Zoetis by 604.3% during the second quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock worth $112,000 after purchasing an additional 1,124 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Zoetis by 3,033.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,410 shares of the company’s stock worth $120,000 after purchasing an additional 1,365 shares in the last quarter. Fort L.P. purchased a new stake in shares of Zoetis during the second quarter worth approximately $121,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Zoetis in the 3rd quarter valued at $146,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

In other news, insider Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $92.03, for a total value of $184,060.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Juan Ramon Alaix sold 150,306 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $94.96, for a total value of $14,273,057.76. Following the completion of the transaction, the chief executive officer now directly owns 246,319 shares in the company, valued at approximately $23,390,452.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,806 shares of company stock worth $15,547,088. Corporate insiders own 0.35% of the company’s stock.

ZTS has been the subject of several analyst reports. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, October 17th. Cantor Fitzgerald set a $98.00 target price on Zoetis and gave the company a “buy” rating in a report on Thursday, August 2nd. Bank of America upped their target price on Zoetis from $97.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 30th. Stifel Nicolaus upped their target price on Zoetis from $86.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Argus upped their target price on Zoetis from $90.00 to $103.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $94.00.

Shares of Zoetis stock opened at $88.68 on Friday. Zoetis Inc has a 52 week low of $70.20 and a 52 week high of $96.57. The firm has a market capitalization of $42.48 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The company has a current ratio of 4.06, a quick ratio of 2.63 and a debt-to-equity ratio of 3.04.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.06. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Zoetis Inc will post 3.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be paid a $0.126 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, November 19th. Zoetis’s dividend payout ratio (DPR) is presently 20.83%.

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About Zoetis

Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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