Pinebridge Investments L.P. Increases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Pinebridge Investments L.P. grew its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 64.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,301 shares of the company's stock after acquiring an additional 65,342 shares during the quarter. Pinebridge Investments L.P.'s holdings in Zoetis were worth $27,258,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mission Wealth Management LP increased its stake in Zoetis by 2.0% during the 4th quarter. Mission Wealth Management LP now owns 2,938 shares of the company's stock valued at $479,000 after purchasing an additional 59 shares in the last quarter. VeraBank N.A. increased its holdings in shares of Zoetis by 4.1% in the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company's stock valued at $254,000 after purchasing an additional 62 shares during the period. HUB Investment Partners LLC lifted its holdings in shares of Zoetis by 4.7% during the fourth quarter. HUB Investment Partners LLC now owns 1,373 shares of the company's stock worth $224,000 after purchasing an additional 62 shares during the period. Procyon Advisors LLC boosted its position in Zoetis by 1.4% in the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company's stock valued at $768,000 after buying an additional 63 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in Zoetis by 6.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company's stock worth $170,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction 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 sale, the executive vice president now directly owns 15,781 shares in the company, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Willie M. Reed sold 1,210 shares of the 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 trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock valued at $312,254 in the last quarter. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on ZTS shares. Stifel Nicolaus dropped their price target on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. 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. Piper Sandler boosted their price target on shares of Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, StockNews.com upgraded Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Zoetis currently has a consensus rating of "Buy" and an average price target of $214.40.

Zoetis Trading Up 0.8 %

NYSE ZTS traded up $1.28 on Friday, reaching $153.58. 3,543,605 shares of the company were exchanged, compared to its average volume of 2,512,297. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The stock has a market capitalization of $68.52 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92. The business's fifty day moving average price is $158.91 and its 200 day moving average price is $168.62. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

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

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.30%. Zoetis's dividend payout ratio (DPR) is 36.56%.

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.