Stanley Laman Group Ltd. Acquires New Stake in Zoetis Inc. (NYSE:ZTS)

Stanley Laman Group Ltd. bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,777 shares of the company's stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Zoetis during the fourth quarter worth approximately $824,321,000. Wellington Management Group LLP increased its position in Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after buying an additional 3,059,255 shares during the period. Sarasin & Partners LLP acquired a new position in Zoetis during the first quarter worth approximately $339,111,000. GAMMA Investing LLC increased its position in Zoetis by 14,731.3% during the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock worth $289,666,000 after buying an additional 1,747,423 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Zoetis during the fourth quarter worth approximately $196,651,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Price Performance

ZTS stock traded down $4.55 on Friday, reaching $164.27. 2,973,481 shares of the company's stock were exchanged, compared to its average volume of 2,552,614. The stock has a fifty day moving average of $158.67 and a 200-day moving average of $163.92. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The firm has a market cap of $73.13 billion, a PE ratio of 30.03, a P/E/G ratio of 2.78 and a beta of 0.94. 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 (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Zoetis's quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus cut their price target on Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $212.75.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, the executive vice president now owns 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate 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.