Lazard Freres Gestion S.A.S. Raises Holdings in Zoetis Inc. (NYSE:ZTS)

Lazard Freres Gestion S.A.S. increased its stake in Zoetis Inc. (NYSE:ZTS) by 20.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,074,865 shares of the company’s stock after purchasing an additional 183,912 shares during the period. Zoetis accounts for approximately 3.5% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 7th biggest position. Lazard Freres Gestion S.A.S.’s holdings in Zoetis were worth $175,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Zoetis by 0.5% in the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company’s stock worth $3,864,488,000 after purchasing an additional 95,856 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zoetis by 1.8% during the third quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock worth $2,030,813,000 after buying an additional 185,364 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Zoetis by 8.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,561,910 shares of the company’s stock worth $906,202,000 after buying an additional 433,429 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Zoetis by 13,726.9% during the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after buying an additional 4,829,815 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Zoetis by 5.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock worth $761,221,000 after buying an additional 194,542 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Down 1.6 %

Shares of ZTS opened at $161.74 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The firm has a market capitalization of $72.43 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The stock’s fifty day simple moving average is $166.92 and its 200-day simple moving average is $176.44.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley lowered their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. UBS Group assumed coverage on Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Piper Sandler increased their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $215.90.

Insider Buying and Selling at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is currently owned by company insiders.

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.