MQS Management LLC Purchases Shares of 2,617 Zoetis Inc. (NYSE:ZTS)

MQS Management LLC acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,617 shares of the company’s stock, valued at approximately $443,000.

Several other institutional investors have also recently made changes to their positions in ZTS. Natixis Investment Managers International lifted its stake in Zoetis by 19.1% in the 1st quarter. Natixis Investment Managers International now owns 219,243 shares of the company’s stock worth $37,098,000 after purchasing an additional 35,220 shares in the last quarter. Natixis grew its holdings in Zoetis by 282.6% during the 1st quarter. Natixis now owns 217,374 shares of the company’s stock valued at $36,782,000 after buying an additional 160,562 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Zoetis during the 1st quarter worth approximately $3,384,000. Tiemann Investment Advisors LLC increased its position in Zoetis by 13.7% in the first quarter. Tiemann Investment Advisors LLC now owns 1,620 shares of the company’s stock worth $274,000 after purchasing an additional 195 shares during the last quarter. Finally, Pitcairn Co. raised its stake in Zoetis by 7.8% during the first quarter. Pitcairn Co. now owns 34,825 shares of the company’s stock valued at $5,893,000 after purchasing an additional 2,507 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.6 %

ZTS traded up $1.10 on Thursday, reaching $180.76. 2,445,077 shares of the company traded hands, compared to its average volume of 2,829,597. The company has a market cap of $82.48 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.79 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a fifty day simple moving average of $174.40 and a two-hundred day simple moving average of $176.41.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZTS. BTIG Research assumed coverage on shares of Zoetis in a research note on Thursday. They issued a “buy” rating and a $220.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Barclays decreased their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, HSBC lowered their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $212.67.

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.