Edgestream Partners L.P. lifted its stake in Zoetis Inc. (NYSE:ZTS – Free Report) by 176.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,506 shares of the company’s stock after buying an additional 49,448 shares during the quarter. Edgestream Partners L.P.’s holdings in Zoetis were worth $9,162,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. J. Stern & Co. LLP increased its holdings in Zoetis by 12,431.2% in the 4th quarter. J. Stern & Co. LLP now owns 24,069,492 shares of the company’s stock valued at $3,028,423,000 after acquiring an additional 23,877,416 shares during the last quarter. Norges Bank bought a new position in shares of Zoetis during the 4th quarter valued at about $734,425,000. Vanguard Group Inc. boosted its holdings in shares of Zoetis by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 47,780,974 shares of the company’s stock valued at $6,011,802,000 after purchasing an additional 5,474,210 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. purchased a new position in shares of Zoetis during the first quarter valued at about $286,660,000. Finally, Van ECK Associates Corp grew its position in shares of Zoetis by 269.0% during the fourth quarter. Van ECK Associates Corp now owns 2,387,059 shares of the company’s stock valued at $300,340,000 after purchasing an additional 1,740,113 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.
Zoetis Stock Up 0.5%
Shares of NYSE:ZTS opened at $77.89 on Thursday. The company has a current ratio of 3.15, a quick ratio of 1.91 and a debt-to-equity ratio of 2.80. Zoetis Inc. has a 12 month low of $71.47 and a 12 month high of $160.48. The company has a 50-day moving average price of $77.21 and a 200 day moving average price of $103.02. The company has a market cap of $32.66 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.21 and a beta of 0.75.
Zoetis Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.7%. Zoetis’s payout ratio is 35.16%.
Insider Activity
In related news, Director Michael B. Mccallister purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $77.76 per share, for a total transaction of $233,280.00. Following the acquisition, the director owned 24,524 shares of the company’s stock, valued at approximately $1,906,986.24. This represents a 13.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Bisaro acquired 2,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $75.88 per share, for a total transaction of $151,760.00. Following the transaction, the director directly owned 27,862 shares of the company’s stock, valued at approximately $2,114,168.56. The trade was a 7.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 11,650 shares of company stock valued at $886,384. 0.22% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on ZTS shares. UBS Group decreased their target price on Zoetis from $99.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays reduced their price objective on Zoetis from $136.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Zoetis from $190.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Argus reiterated a “hold” rating on shares of Zoetis in a research report on Wednesday, May 27th. Finally, Morgan Stanley cut their target price on shares of Zoetis from $115.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zoetis currently has an average rating of “Hold” and a consensus price target of $118.33.
Get Our Latest Stock Report on ZTS
Zoetis Company Profile
Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.
Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.
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