Quantbot Technologies LP Acquires New Position in Zoetis Inc. (NYSE:ZTS)

Quantbot Technologies LP acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,926 shares of the company’s stock, valued at approximately $2,595,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ZTS. Raymond James Financial Inc. bought a new stake in shares of Zoetis during the fourth quarter valued at about $196,651,000. Polen Capital Management LLC increased its position in shares of Zoetis by 17.5% during the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after buying an additional 1,116,541 shares during the period. Amundi increased its position in shares of Zoetis by 46.2% during the fourth quarter. Amundi now owns 2,748,719 shares of the company’s stock valued at $453,355,000 after buying an additional 867,993 shares during the period. Assenagon Asset Management S.A. increased its position 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 buying an additional 665,331 shares during the period. Finally, Nordea Investment Management AB increased its position 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 buying an additional 572,511 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZTS has been the topic of several analyst reports. Leerink Partners initiated coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. UBS Group initiated 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. Barclays upped their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Piper Sandler upped their price objective on shares of Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and an average price target of $215.90.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $162.86 on Friday. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The business has a fifty day moving average price of $166.76 and a 200-day moving average price of $175.47. The company has a market capitalization of $72.93 billion, a PE ratio of 29.77, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.23%. Zoetis’s payout ratio is 36.56%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm’s 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 directly owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,862 shares of company stock valued at $312,254. Insiders own 0.16% of the company’s stock.

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.