Raymond James & Associates Grows Stake in Zoetis Inc. (NYSE:ZTS)

Raymond James & Associates increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 32.0% during the first quarter, HoldingsChannel reports. The firm owned 748,822 shares of the company’s stock after buying an additional 181,689 shares during the period. Raymond James & Associates’ holdings in Zoetis were worth $126,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Zoetis by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock valued at $7,960,912,000 after acquiring an additional 536,477 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after buying an additional 3,244,074 shares during the period. Wellington Management Group LLP raised its stake in shares of Zoetis by 2.5% in the third quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after buying an additional 297,044 shares during the period. Capital World Investors grew its position in shares of Zoetis by 0.6% during the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock worth $1,788,988,000 after purchasing an additional 57,798 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Zoetis by 3.3% during the third quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock worth $1,068,804,000 after purchasing an additional 196,771 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the transaction, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 2,209 shares of company stock worth $371,293 in the last quarter. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

ZTS has been the subject of several research analyst reports. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus reduced their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their price objective on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays reduced their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $216.13.

Zoetis Trading Down 0.3 %

Shares of NYSE ZTS traded down $0.53 during trading hours on Tuesday, hitting $159.17. 3,647,859 shares of the company traded hands, compared to its average volume of 3,147,432. The stock has a market capitalization of $72.80 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average price is $170.66 and its 200 day moving average price is $179.12. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $1.15 EPS. Zoetis’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, April 18th. Zoetis’s payout ratio is currently 34.12%.

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.