Bailard Inc. Grows Position in Zoetis Inc. (NYSE:ZTS)

Bailard Inc. increased its holdings in Zoetis Inc. (NYSE:ZTS) by 22.5% in the fourth quarter, Holdings Channel reports. The fund owned 68,080 shares of the company’s stock after purchasing an additional 12,511 shares during the quarter. Bailard Inc.’s holdings in Zoetis were worth $13,437,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. lifted its stake in Zoetis by 4.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 16,618 shares of the company’s stock worth $3,280,000 after acquiring an additional 643 shares during the period. NewSquare Capital LLC purchased a new stake in Zoetis in the fourth quarter worth about $69,000. GAMMA Investing LLC purchased a new stake in Zoetis in the fourth quarter worth about $975,000. Parkside Financial Bank & Trust lifted its stake in Zoetis by 20.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,912 shares of the company’s stock worth $377,000 after acquiring an additional 325 shares during the period. Finally, SlateStone Wealth LLC lifted its stake in Zoetis by 2.2% in the fourth quarter. SlateStone Wealth LLC now owns 26,071 shares of the company’s stock worth $5,146,000 after acquiring an additional 571 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total value of $159,983.59. Following the transaction, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 2,209 shares of company stock worth $371,293 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Zoetis Stock Up 0.9 %

Shares of ZTS traded up $1.33 during mid-day trading on Wednesday, hitting $150.89. 3,640,337 shares of the company traded hands, compared to its average volume of 3,074,906. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $69.01 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.85. The business has a 50 day moving average of $173.11 and a 200 day moving average of $179.58.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the company earned $1.15 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post 5.79 EPS for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.15%. Zoetis’s dividend payout ratio (DPR) is currently 34.12%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZTS. Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday. Stifel Nicolaus reduced their target price on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis presently has an average rating of “Buy” and an average target price of $218.00.

About Zoetis

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.