Bayesian Capital Management LP Buys New Position in Zoetis Inc. (NYSE:ZTS)

Bayesian Capital Management LP purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,800 shares of the company’s stock, valued at approximately $1,658,000.

A number of other institutional investors have also recently made changes to their positions in the business. Focus Financial Network Inc. ADV acquired a new position in shares of Zoetis during the fourth quarter worth about $2,159,000. Price T Rowe Associates Inc. MD grew its holdings in Zoetis by 31.0% during 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 acquiring an additional 3,244,074 shares in the last quarter. Ninety One UK Ltd increased its position in shares of 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 purchasing an additional 12,537 shares during the last quarter. Axiom Investors LLC DE raised its holdings in shares of Zoetis by 36.3% in the 4th quarter. Axiom Investors LLC DE now owns 594,474 shares of the company’s stock valued at $117,331,000 after purchasing an additional 158,459 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of Zoetis during the 1st quarter worth $8,831,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS remained flat at $181.83 during midday trading on Tuesday. 2,268,759 shares of the company’s stock were exchanged, compared to its average volume of 2,807,816. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The firm has a market cap of $82.97 billion, a PE ratio of 35.03, a PEG ratio of 2.79 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average price is $174.66 and its 200-day moving average price is $175.89.

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

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

Several research firms recently commented on ZTS. BTIG Research began coverage on Zoetis in a report on Thursday, July 25th. They issued a “buy” rating and a $220.00 target price on the stock. The Goldman Sachs Group decreased their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. HSBC cut their price objective on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $212.67.

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.