Bailard Inc. Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

Bailard Inc. raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 22.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,080 shares of the company’s stock after buying an additional 12,511 shares during the period. Bailard Inc.’s holdings in Zoetis were worth $13,437,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. bought a new position in Zoetis in the 3rd quarter worth $176,219,000. Alphinity Investment Management Pty Ltd raised its holdings in Zoetis by 214.7% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 824,148 shares of the company’s stock worth $162,662,000 after purchasing an additional 562,259 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Zoetis by 27,671.0% in the 4th quarter. International Assets Investment Management LLC now owns 479,328 shares of the company’s stock worth $94,605,000 after purchasing an additional 477,602 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Zoetis by 34.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,562,044 shares of the company’s stock worth $271,764,000 after purchasing an additional 403,164 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Zoetis by 53.9% in the 3rd quarter. Natixis Advisors L.P. now owns 941,219 shares of the company’s stock worth $163,753,000 after purchasing an additional 329,543 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 0.9 %

NYSE:ZTS traded up $1.33 on Wednesday, reaching $150.89. 3,640,337 shares of the stock traded hands, compared to its average volume of 3,074,906. The company has a market capitalization of $69.01 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.22 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. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company’s fifty day simple moving average is $173.11 and its 200 day simple moving average is $179.58.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is presently 34.12%.

Analysts Set New Price Targets

Several research analysts have commented on ZTS shares. Stifel Nicolaus decreased their price objective on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. 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. The Goldman Sachs Group increased their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays decreased their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $218.00.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the sale, the executive vice president now owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,209 shares of company stock valued at $371,293 in the last 90 days. 0.15% of the stock is currently owned by insiders.

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.