OLD National Bancorp IN Cuts Position in Zoetis Inc (ZTS)

OLD National Bancorp IN lessened its holdings in Zoetis Inc (NYSE:ZTS) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,334 shares of the company’s stock after selling 1,928 shares during the period. OLD National Bancorp IN’s holdings in Zoetis were worth $2,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of Zoetis by 63.3% in the second quarter. Alps Advisors Inc. now owns 18,557 shares of the company’s stock valued at $1,468,000 after purchasing an additional 7,193 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Zoetis by 0.4% in the second quarter. Bessemer Group Inc. now owns 3,459,497 shares of the company’s stock valued at $294,716,000 after purchasing an additional 15,112 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Zoetis by 1.8% in the second quarter. Congress Asset Management Co. MA now owns 842,231 shares of the company’s stock valued at $71,750,000 after purchasing an additional 14,809 shares in the last quarter. Squar Milner Financial Services LLC acquired a new stake in shares of Zoetis in the second quarter valued at approximately $176,000. Finally, Harvest Management LLC acquired a new stake in shares of Zoetis in the second quarter valued at approximately $213,000. 90.45% of the stock is owned by institutional investors.

ZTS has been the subject of a number of research reports. Stifel Nicolaus raised their price target on shares of Zoetis from $86.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Craig Hallum reissued a “buy” rating and issued a $94.00 price target (up previously from $87.00) on shares of Zoetis in a report on Wednesday, April 25th. Citigroup reaffirmed a “buy” rating and issued a $98.00 price objective (up from $85.00) on shares of Zoetis in a research note on Thursday, April 19th. Cantor Fitzgerald set a $98.00 price objective on shares of Zoetis and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, Morgan Stanley raised their price objective on shares of Zoetis from $87.00 to $92.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $89.64.

In other news, insider Roxanne Lagano sold 2,000 shares of Zoetis stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $84.76, for a total transaction of $169,520.00. Following the transaction, the insider now directly owns 22,023 shares of the company’s stock, valued at $1,866,669.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Roman Trawicki sold 8,266 shares of Zoetis stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $92.53, for a total transaction of $764,852.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,283 shares of company stock worth $1,366,924. Insiders own 0.35% of the company’s stock.

Shares of Zoetis opened at $91.70 on Friday, Marketbeat Ratings reports. Zoetis Inc has a 52-week low of $59.64 and a 52-week high of $93.67. The company has a market capitalization of $44.52 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02. The company has a current ratio of 4.38, a quick ratio of 2.92 and a debt-to-equity ratio of 2.50.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Zoetis had a net margin of 19.95% and a return on equity of 72.30%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. equities analysts anticipate that Zoetis Inc will post 3.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, July 20th will be given a dividend of $0.126 per share. The ex-dividend date is Thursday, July 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.55%. Zoetis’s dividend payout ratio is 20.83%.

About Zoetis

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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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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