Tilt Investment Management Holdings PBC Acquires Shares of 1,872 Zoetis Inc. (NYSE:ZTS)

Tilt Investment Management Holdings PBC bought a new position in Zoetis Inc. (NYSE:ZTS) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,872 shares of the company’s stock, valued at approximately $369,000.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Zoetis in the 4th quarter valued at $745,861,000. Morgan Stanley increased its holdings in shares of Zoetis by 34.6% in the fourth quarter. Morgan Stanley now owns 10,872,704 shares of the company’s stock worth $1,593,395,000 after purchasing an additional 2,796,694 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Zoetis by 124,281.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,332,160 shares of the company’s stock worth $341,778,000 after buying an additional 2,330,285 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Zoetis by 171.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,326,448 shares of the company’s stock valued at $627,335,000 after buying an additional 2,102,306 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Zoetis during the third quarter valued at approximately $176,219,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the sale, the executive vice president now owns 15,723 shares in the company, valued at $2,725,267.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZTS. Barclays lifted their price objective on Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Stifel Nicolaus reduced their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $221.75.

Zoetis Trading Up 0.6 %

ZTS traded up $0.96 during trading hours on Thursday, reaching $152.47. 3,367,593 shares of the company’s stock traded hands, compared to its average volume of 2,970,040. The firm has a 50-day moving average price of $177.35 and a 200 day moving average price of $180.39. The firm has a market capitalization of $69.73 billion, a PE ratio of 30.15, a PEG ratio of 2.34 and a beta of 0.85. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52-week low of $148.48 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. As a group, sell-side analysts predict that Zoetis Inc. will post 5.79 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a yield of 1.13%. Zoetis’s dividend payout ratio is currently 34.12%.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.