Tandem Investment Advisors Inc. Acquires Shares of 197,537 Zoetis Inc. (NYSE:ZTS)

Tandem Investment Advisors Inc. bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 197,537 shares of the company's stock, valued at approximately $32,185,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Zoetis by 0.5% during the third quarter. State Street Corp now owns 19,779,344 shares of the company's stock valued at $3,864,488,000 after buying an additional 95,856 shares during the period. Geode Capital Management LLC increased its holdings in Zoetis by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company's stock worth $2,030,813,000 after acquiring an additional 185,364 shares during the period. Mizuho Securities USA LLC lifted its stake in Zoetis by 13,726.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company's stock worth $950,524,000 after purchasing an additional 4,829,815 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Zoetis by 5.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company's stock valued at $761,221,000 after purchasing an additional 194,542 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Zoetis by 10.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after purchasing an additional 279,092 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

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Zoetis Price Performance

Shares of Zoetis stock traded up $2.52 during trading hours on Tuesday, hitting $167.83. The company's stock had a trading volume of 1,861,968 shares, compared to its average volume of 3,268,351. The company has a market cap of $75.15 billion, a PE ratio of 30.68, a PEG ratio of 2.78 and a beta of 0.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The business has a 50 day moving average price of $166.30 and a two-hundred day moving average price of $177.78. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $2.30 billion. Analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid 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 yield of 1.19%. Zoetis's payout ratio is currently 36.56%.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares of the company's stock, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

ZTS has been the subject of a number of research analyst reports. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Leerink Partners began coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 target price on the stock. Stifel Nicolaus dropped their target price on shares of Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Leerink Partnrs upgraded shares of Zoetis to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Piper Sandler reduced their price target on shares of Zoetis from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $215.40.

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.