Worldquant Millennium Quantitative Strategies LLC Has $22.81 Million Stake in Zoetis Inc (ZTS)

Worldquant Millennium Quantitative Strategies LLC lifted its holdings in shares of Zoetis Inc (NYSE:ZTS) by 3.7% during the third quarter, Holdings Channel reports. The fund owned 249,171 shares of the company’s stock after purchasing an additional 8,821 shares during the quarter. Worldquant Millennium Quantitative Strategies LLC’s holdings in Zoetis were worth $22,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZTS. Sun Life Financial INC increased its position in shares of Zoetis by 604.3% during the second quarter. Sun Life Financial INC now owns 1,310 shares of the company’s stock worth $112,000 after acquiring an additional 1,124 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Zoetis in the third quarter worth about $112,000. Capital Bank & Trust Co grew its stake in Zoetis by 206.5% in the third quarter. Capital Bank & Trust Co now owns 1,269 shares of the company’s stock worth $116,000 after purchasing an additional 855 shares in the last quarter. Capital Guardian Trust Co. acquired a new position in Zoetis in the third quarter worth about $117,000. Finally, Fort L.P. acquired a new position in Zoetis in the second quarter worth about $121,000. 89.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of ZTS stock opened at $90.73 on Thursday. The company has a debt-to-equity ratio of 3.04, a current ratio of 4.06 and a quick ratio of 2.63. Zoetis Inc has a 52 week low of $70.20 and a 52 week high of $96.57. The company has a market capitalization of $43.14 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 1.77 and a beta of 0.99.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, November 1st. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.06. Zoetis had a return on equity of 75.51% and a net margin of 20.35%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. Zoetis’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts predict that Zoetis Inc will post 3.11 earnings per share for the current fiscal year.

Zoetis declared that its Board of Directors has approved a share buyback plan on Wednesday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Tuesday, November 20th were paid a $0.126 dividend. The ex-dividend date was Monday, November 19th. This represents a $0.50 dividend on an annualized basis and a yield of 0.56%. Zoetis’s payout ratio is currently 20.83%.

In other Zoetis news, insider Roxanne Lagano sold 2,000 shares of Zoetis stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $92.03, for a total value of $184,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Juan Ramon Alaix sold 150,306 shares of Zoetis stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $94.96, for a total value of $14,273,057.76. Following the completion of the transaction, the chief executive officer now owns 246,319 shares of the company’s stock, valued at $23,390,452.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,511 shares of company stock valued at $16,081,299. 0.35% of the stock is currently owned by insiders.

A number of research firms recently commented on ZTS. Zacks Investment Research downgraded Zoetis from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Argus set a $105.00 price target on Zoetis and gave the stock a “buy” rating in a research note on Tuesday, November 13th. BMO Capital Markets reiterated a “hold” rating on shares of Zoetis in a research note on Sunday, November 11th. JPMorgan Chase & Co. lifted their price target on Zoetis from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $105.00 price target (up from $98.00) on shares of Zoetis in a research note on Wednesday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $94.00.

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Zoetis Profile

Zoetis, Inc discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal. The firm provides its services though five categories namely, anti-invectives, vaccines, parasitic ides, medicated feed additives, and other pharmaceuticals.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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