Doyle Wealth Management Reduces Holdings in Zoetis Inc (ZTS)
Doyle Wealth Management trimmed its holdings in shares of Zoetis Inc (NYSE:ZTS) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,629 shares of the company’s stock after selling 1,567 shares during the quarter. Doyle Wealth Management’s holdings in Zoetis were worth $2,495,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the business. Bessemer Group Inc. increased its holdings in shares of Zoetis by 231,590.8% in the 4th quarter. Bessemer Group Inc. now owns 2,117,654 shares of the company’s stock worth $152,557,000 after acquiring an additional 2,116,740 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Zoetis by 111.3% in the 4th quarter. Acadian Asset Management LLC now owns 1,709,352 shares of the company’s stock worth $123,143,000 after acquiring an additional 900,261 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Zoetis by 292.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,063,051 shares of the company’s stock worth $76,583,000 after acquiring an additional 792,000 shares during the period. Milestone Resources Group Ltd acquired a new stake in shares of Zoetis in the 4th quarter worth about $40,294,000. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Zoetis by 41.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,018 shares of the company’s stock worth $86,954,000 after acquiring an additional 354,786 shares during the period. 93.72% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on ZTS shares. BMO Capital Markets set a $65.00 price objective on shares of Zoetis and gave the stock a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research cut 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. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Zoetis in a report on Tuesday, October 24th. Citigroup raised shares of Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, January 4th. Finally, Cowen set a $80.00 price objective on shares of Zoetis and gave the stock a “buy” rating in a report on Friday, November 17th. Two equities research 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. The stock presently has an average rating of “Buy” and a consensus price target of $73.72.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, January 19th will be paid a dividend of $0.126 per share. This is a boost from Zoetis’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $0.50 annualized dividend and a yield of 0.70%. 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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