OFI Invest Asset Management Purchases New Stake in Zoetis Inc. (NYSE:ZTS)

OFI Invest Asset Management bought a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 237,050 shares of the company's stock, valued at approximately $37,298,000. OFI Invest Asset Management owned 0.05% of Zoetis as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ZTS. Howard Capital Management Group LLC boosted its holdings in Zoetis by 0.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company's stock valued at $20,489,000 after acquiring an additional 883 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Zoetis by 17.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company's stock worth $464,497,000 after buying an additional 351,372 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Zoetis by 62.8% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,020 shares of the company's stock worth $590,000 after buying an additional 1,165 shares during the period. Summit Global Investments lifted its holdings in shares of Zoetis by 344.8% in the 3rd quarter. Summit Global Investments now owns 5,173 shares of the company's stock worth $1,011,000 after buying an additional 4,010 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Zoetis in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Leerink Partners assumed coverage on Zoetis in a report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 target price for the company. Stifel Nicolaus reduced their price target on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Barclays boosted their price target on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Leerink Partnrs raised Zoetis to a "strong-buy" rating in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $215.90.

Zoetis Stock Performance

Zoetis stock traded up $3.09 during trading hours on Friday, hitting $170.34. 3,296,788 shares of the stock traded hands, compared to its average volume of 3,274,650. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The firm's 50 day moving average price is $166.72 and its 200-day moving average price is $176.74. The stock has a market capitalization of $76.28 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.30 billion. As a group, equities analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid 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 dividend yield of 1.17%. Zoetis's payout ratio is 36.56%.

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.