CCLA Investment Management Buys 135,630 Shares of Zoetis Inc. (NYSE:ZTS)

CCLA Investment Management grew its stake in Zoetis Inc. (NYSE:ZTS) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 758,335 shares of the company’s stock after acquiring an additional 135,630 shares during the period. Zoetis makes up 2.0% of CCLA Investment Management’s investment portfolio, making the stock its 21st largest position. CCLA Investment Management’s holdings in Zoetis were worth $123,638,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ZTS. Darwin Wealth Management LLC bought a new position in Zoetis during the third quarter worth about $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis during the third quarter worth about $33,000. Capital Performance Advisors LLP bought a new position in shares of Zoetis during the 3rd quarter valued at about $33,000. Dunhill Financial LLC grew its position in shares of Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after purchasing an additional 75 shares during the period. Finally, Quarry LP increased its stake in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

ZTS opened at $164.31 on Wednesday. The business’s 50-day simple moving average is $171.31 and its 200 day simple moving average is $180.16. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm has a market capitalization of $74.13 billion, a PE ratio of 30.89, a PEG ratio of 2.91 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, January 21st. This is an increase from Zoetis’s previous quarterly dividend of $0.43. Zoetis’s dividend payout ratio (DPR) is 37.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZTS. Leerink Partners began coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target on the stock. UBS Group assumed coverage on shares of Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus cut their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $211.89.

Zoetis 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.