Reliance Trust Co. of Delaware Sells 8,369 Shares of Zoetis Inc. (ZTS)
Reliance Trust Co. of Delaware reduced its stake in Zoetis Inc. (NYSE:ZTS) by 20.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,433 shares of the company’s stock after selling 8,369 shares during the period. Reliance Trust Co. of Delaware’s holdings in Zoetis were worth $1,686,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of ZTS. Gilder Gagnon Howe & Co. LLC raised its position in Zoetis by 0.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 6,730 shares of the company’s stock valued at $319,000 after buying an additional 26 shares in the last quarter. Sterneck Capital Management LLC raised its position in Zoetis by 0.7% in the second quarter. Sterneck Capital Management LLC now owns 5,766 shares of the company’s stock valued at $274,000 after buying an additional 38 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in Zoetis by 1.1% in the second quarter. Kistler Tiffany Companies LLC now owns 6,231 shares of the company’s stock valued at $296,000 after buying an additional 65 shares in the last quarter. Fulton Bank N.A. raised its position in Zoetis by 1.6% in the third quarter. Fulton Bank N.A. now owns 5,279 shares of the company’s stock valued at $275,000 after buying an additional 83 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in Zoetis by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 2,950 shares of the company’s stock valued at $139,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.
Shares of Zoetis Inc. (NYSE:ZTS) traded up 0.60% during trading on Tuesday, reaching $50.45. The company’s stock had a trading volume of 2,314,144 shares. The stock’s 50 day moving average price is $50.03 and its 200-day moving average price is $49.67. Zoetis Inc. has a 12 month low of $38.26 and a 12 month high of $53.14. The firm has a market cap of $24.91 billion, a PE ratio of 36.37 and a beta of 1.05.
Zoetis (NYSE:ZTS) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Zoetis had a net margin of 14.10% and a return on equity of 72.96%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Equities analysts predict that Zoetis Inc. will post $1.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.75%. Zoetis’s dividend payout ratio (DPR) is presently 27.54%.
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ZTS has been the topic of several recent analyst reports. Barclays PLC lifted their target price on Zoetis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Citigroup Inc. lifted their target price on Zoetis from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Jefferies Group boosted their price target on Zoetis from $58.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Guggenheim restated a “positive” rating and issued a $60.00 price target on shares of Zoetis in a report on Monday, August 22nd. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $60.00 price target on shares of Zoetis in a report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.92.
In other news, insider Heidi C. Chen sold 32,097 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $50.98, for a total transaction of $1,636,305.06. Following the transaction, the insider now owns 46,060 shares of the company’s stock, valued at approximately $2,348,138.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Roxanne Lagano sold 9,797 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $50.43, for a total transaction of $494,062.71. Following the transaction, the insider now directly owns 8,063 shares in the company, valued at approximately $406,617.09. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
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.
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