M&G Plc Buys Shares of 117,275 Zoetis Inc. (NYSE:ZTS)

M&G Plc purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 117,275 shares of the company’s stock, valued at approximately $19,819,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its holdings in Zoetis by 222.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Webster Bank N. A. lifted its stake in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after buying an additional 130 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in Zoetis during the fourth quarter valued at approximately $33,000. Finally, Gladius Capital Management LP bought a new position in Zoetis in the fourth quarter worth approximately $40,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of ZTS stock traded down $0.65 during mid-day trading on Friday, hitting $178.58. The company had a trading volume of 2,131,427 shares, compared to its average volume of 2,211,473. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The stock’s 50 day moving average price is $173.66 and its 200-day moving average price is $176.67. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The company has a market capitalization of $81.49 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.77 and a beta of 0.86.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 EPS. Equities research analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $211.75.

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.