New Mexico Educational Retirement Board raised its stake in shares of Zoetis Inc (NYSE:ZTS) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,175 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Zoetis were worth $3,398,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ZTS. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Zoetis during the 4th quarter valued at approximately $108,000. Steward Partners Investment Advisory LLC acquired a new position in Zoetis during the 3rd quarter valued at approximately $114,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Zoetis by 251.9% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,900 shares of the company’s stock valued at $121,000 after purchasing an additional 1,360 shares in the last quarter. Shine Investment Advisory Services Inc. increased its stake in Zoetis by 86.5% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,242 shares of the company’s stock valued at $143,000 after purchasing an additional 1,040 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. acquired a new position in Zoetis during the 3rd quarter valued at approximately $201,000. Institutional investors and hedge funds own 93.72% of the company’s stock.
Several analysts have recently commented on the stock. BMO Capital Markets set a $78.00 price objective on shares of Zoetis and gave the company a “hold” rating in a report on Monday, January 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Zoetis in a report on Thursday, January 18th. Jefferies Group reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Zoetis in a report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Zoetis from a “hold” rating to a “sell” rating and set a $83.00 price objective on the stock. in a report on Saturday, January 13th. Finally, Cantor Fitzgerald set a $85.00 price objective on shares of Zoetis and gave the company a “buy” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.72.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, April 20th will be issued a dividend of $0.126 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 19th. Zoetis’s dividend payout ratio (DPR) is presently 26.32%.
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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 business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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