Arizona State Retirement System increased its holdings in shares of Zoetis Inc (NYSE:ZTS) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 229,776 shares of the company’s stock after acquiring an additional 10,314 shares during the period. Arizona State Retirement System’s holdings in Zoetis were worth $16,553,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Zoetis in the 4th quarter valued at $108,000. Steward Partners Investment Advisory LLC acquired a new position in Zoetis in the 3rd quarter valued at $114,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Zoetis by 251.9% in 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 during the last quarter. Shine Investment Advisory Services Inc. raised its stake in Zoetis by 86.5% in 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 during the last quarter. Finally, Advisory Services Network LLC raised its stake in Zoetis by 42.4% in the 4th quarter. Advisory Services Network LLC now owns 2,423 shares of the company’s stock valued at $175,000 after purchasing an additional 721 shares during the last quarter. 93.72% of the stock is owned by hedge funds and other institutional investors.
ZTS has been the subject of several recent research reports. BMO Capital Markets reissued a “hold” rating and issued a $65.00 price objective on shares of Zoetis in a research note on Thursday, November 2nd. Cowen set a $80.00 price objective on Zoetis and gave the company a “buy” rating in a research note on Friday, November 17th. Morgan Stanley raised Zoetis from an “equal weight” rating to an “overweight” rating and set a $80.00 price objective for the company in a research note on Wednesday, November 29th. UBS Group reissued a “neutral” rating on shares of Zoetis in a research note on Friday, November 24th. Finally, Citigroup raised Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $73.72.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, April 20th will be paid a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date 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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