Arrowstreet Capital Limited Partnership Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Arrowstreet Capital Limited Partnership increased its position in Zoetis Inc. (NYSE:ZTS) by 1,269.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 267,679 shares of the company’s stock after purchasing an additional 248,131 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Zoetis were worth $43,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ZTS. Norges Bank acquired a new stake in shares of Zoetis during the fourth quarter valued at about $824,321,000. Raymond James Financial Inc. acquired a new stake in Zoetis during the 4th quarter valued at approximately $196,651,000. Polen Capital Management LLC increased its holdings in Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after purchasing an additional 1,116,541 shares during the last quarter. Amundi raised its position in shares of Zoetis by 46.2% in the 4th quarter. Amundi now owns 2,748,719 shares of the company’s stock valued at $453,355,000 after purchasing an additional 867,993 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Zoetis by 296.9% during the 4th 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 last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Down 1.7 %

Shares of NYSE:ZTS opened at $161.77 on Wednesday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.33. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The company has a market cap of $72.44 billion, a PE ratio of 29.57, a P/E/G ratio of 2.78 and a beta of 0.94. The company’s 50-day moving average price is $166.26 and its 200 day moving average price is $174.05.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. Zoetis’s dividend payout ratio is presently 36.56%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZTS shares. Piper Sandler upped their price target on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. UBS Group initiated coverage on shares of Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Morgan Stanley reduced their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Stifel Nicolaus dropped their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $215.90.

Insider Activity

In other news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares of the company’s stock, valued at $2,682,770. The trade was a 2.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Willie M. Reed sold 1,210 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were 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. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,862 shares of company stock worth $312,254 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Zoetis 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.