1832 Asset Management L.P. Buys 3,099 Shares of Zoetis Inc. (NYSE:ZTS)

1832 Asset Management L.P. grew its stake in Zoetis Inc. (NYSE:ZTS) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,472 shares of the company’s stock after purchasing an additional 3,099 shares during the quarter. 1832 Asset Management L.P.’s holdings in Zoetis were worth $10,402,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Focus Financial Network Inc. ADV purchased a new position in Zoetis during the fourth quarter worth about $2,159,000. Price T Rowe Associates Inc. MD boosted its holdings in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares during the period. Ninety One UK Ltd grew its stake in Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after buying an additional 12,537 shares in the last quarter. Axiom Investors LLC DE raised its holdings in Zoetis by 36.3% during the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock valued at $117,331,000 after acquiring an additional 158,459 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in shares of Zoetis during the first quarter worth $8,831,000. Institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

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

Zoetis Stock Performance

Shares of ZTS stock traded down $0.92 during trading hours on Friday, reaching $179.84. 2,437,326 shares of the company traded hands, compared to its average volume of 1,885,429. The firm has a 50-day moving average price of $174.51 and a 200 day moving average price of $176.16. The company has a market cap of $82.06 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is presently 33.33%.

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.