Pinebridge Investments L.P. Acquires 65,342 Shares of Zoetis Inc. (NYSE:ZTS)

Pinebridge Investments L.P. boosted its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 64.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,301 shares of the company's stock after purchasing an additional 65,342 shares during the period. Pinebridge Investments L.P.'s holdings in Zoetis were worth $27,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis in the 4th quarter valued at about $44,000. Asset Planning Inc acquired a new position in shares of Zoetis during the 4th quarter worth about $58,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Zoetis during the fourth quarter worth approximately $59,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Up 0.8 %

NYSE ZTS traded up $1.28 on Friday, hitting $153.58. The company's stock had a trading volume of 3,543,605 shares, compared to its average volume of 2,512,294. The firm has a market cap of $68.52 billion, a PE ratio of 28.08, a PEG ratio of 2.78 and a beta of 0.92. The company's 50-day moving average is $158.91 and its 200 day moving average is $168.62. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. Zoetis's payout ratio is 36.56%.

Analyst Ratings Changes

ZTS has been the subject of several research analyst reports. StockNews.com upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Piper Sandler increased their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus cut their price objective on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley decreased their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $214.40.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,862 shares of company stock valued at $312,254 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Zoetis Company 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.