Bp Plc trimmed its position in shares of Zoetis Inc (NYSE:ZTS) by 61.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,000 shares of the company’s stock after selling 83,000 shares during the period. Bp Plc’s holdings in Zoetis were worth $4,448,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lavaca Capital LLC acquired a new position in Zoetis during the fourth quarter worth $32,000. Ledyard National Bank increased its holdings in shares of Zoetis by 393.3% in the fourth quarter. Ledyard National Bank now owns 587 shares of the company’s stock valued at $50,000 after purchasing an additional 468 shares during the last quarter. Truewealth LLC increased its holdings in shares of Zoetis by 65.5% in the fourth quarter. Truewealth LLC now owns 758 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Zoetis in the fourth quarter valued at $75,000. Finally, Enlightenment Research LLC acquired a new position in shares of Zoetis in the fourth quarter valued at $111,000. Institutional investors and hedge funds own 92.87% of the company’s stock.
In other news, insider Roxanne Lagano sold 2,000 shares of the business’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $85.30, for a total value of $170,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Willie M. Reed sold 3,205 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $93.74, for a total transaction of $300,436.70. Following the completion of the sale, the director now directly owns 566 shares of the company’s stock, valued at approximately $53,056.84. The disclosure for this sale can be found here. In the last three months, insiders sold 27,330 shares of company stock valued at $2,395,408. 0.35% of the stock is currently owned by company insiders.
Zoetis announced that its board has authorized a stock buyback program on Wednesday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, April 18th will be given a $0.164 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. Zoetis’s payout ratio is presently 27.50%.
ZTS has been the topic of several research reports. BMO Capital Markets reiterated a “hold” rating on shares of Zoetis in a report on Sunday, November 11th. Zacks Investment Research upgraded shares of Zoetis from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $105.00 price objective (up from $98.00) on shares of Zoetis in a report on Wednesday, October 17th. Argus set a $105.00 price objective on shares of Zoetis and gave the company a “buy” rating in a report on Tuesday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zoetis from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $93.53.
Zoetis Company Profile
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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