Renaissance Investment Group LLC Has $8.52 Million Position in Zoetis Inc. (NYSE:ZTS)

Renaissance Investment Group LLC raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,282 shares of the company’s stock after purchasing an additional 690 shares during the quarter. Zoetis makes up 1.8% of Renaissance Investment Group LLC’s holdings, making the stock its 27th biggest position. Renaissance Investment Group LLC’s holdings in Zoetis were worth $8,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZTS. Cherry Creek Investment Advisors Inc. raised its position in shares of Zoetis by 2.0% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after purchasing an additional 58 shares during the period. Grove Bank & Trust raised its holdings in Zoetis by 0.5% in the 3rd quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after acquiring an additional 61 shares during the period. Hancock Whitney Corp lifted its position in Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after acquiring an additional 61 shares during the last quarter. Strategy Asset Managers LLC boosted its holdings in shares of Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after acquiring an additional 62 shares during the period. Finally, Procyon Advisors LLC grew its position in shares of 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 purchasing an additional 63 shares during the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Down 2.0 %

Shares of ZTS opened at $166.01 on Friday. The firm has a 50 day simple moving average of $170.93 and a two-hundred day simple moving average of $179.95. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a one year low of $144.80 and a one year high of $200.53. The company has a market cap of $74.90 billion, a P/E ratio of 31.20, a P/E/G ratio of 2.51 and a beta of 0.89.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS. Research analysts forecast that Zoetis Inc. will post 5.91 EPS for the current fiscal year.

Zoetis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This is a positive change from Zoetis’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. Zoetis’s payout ratio is 32.52%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZTS shares. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus decreased their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Finally, Leerink Partners initiated coverage on shares of Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target for the company. One investment 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. According to data from MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus price target of $211.89.

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.