Adams Diversified Equity Fund Inc. Raises Stake in Zoetis Inc. (NYSE:ZTS)

Adams Diversified Equity Fund Inc. boosted its position in Zoetis Inc. (NYSE:ZTS) by 48.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,700 shares of the company’s stock after buying an additional 38,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Zoetis were worth $19,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ZTS. Raymond James Financial Inc. purchased a new stake in Zoetis in the fourth quarter worth approximately $196,651,000. Polen Capital Management LLC boosted its stake in Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after buying an additional 1,116,541 shares in the last quarter. Amundi boosted its stake in Zoetis by 46.2% in the fourth quarter. Amundi now owns 2,748,719 shares of the company’s stock worth $453,355,000 after buying an additional 867,993 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Zoetis by 296.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock valued at $144,917,000 after purchasing an additional 665,331 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Zoetis by 38.3% during the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock valued at $336,266,000 after purchasing an additional 572,511 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insider Activity

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were 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 $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. Insiders sold 1,862 shares of company stock worth $312,254 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

Zoetis Price Performance

ZTS opened at $163.15 on Friday. The stock has a fifty day simple moving average of $166.77 and a two-hundred day simple moving average of $175.67. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market cap of $73.06 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.23%. Zoetis’s payout ratio is presently 36.56%.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley dropped their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $215.90.

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.