Artemis Investment Management LLP Has $68.14 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Artemis Investment Management LLP boosted its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,839 shares of the company's stock after acquiring an additional 140,261 shares during the quarter. Zoetis accounts for 1.0% of Artemis Investment Management LLP's portfolio, making the stock its 29th largest position. Artemis Investment Management LLP owned about 0.09% of Zoetis worth $68,139,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ZTS. Mission Wealth Management LP increased its stake in shares of Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company's stock valued at $479,000 after acquiring an additional 59 shares during the period. HUB Investment Partners LLC boosted its stake in Zoetis by 4.7% during the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company's stock valued at $224,000 after purchasing an additional 62 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of Zoetis by 18.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock worth $68,000 after buying an additional 64 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Zoetis by 1.8% in the fourth quarter. Lindbrook Capital LLC now owns 3,650 shares of the company's stock valued at $595,000 after buying an additional 65 shares during the period. Finally, Ironwood Investment Management LLC boosted its stake in Zoetis by 0.8% during the fourth quarter. Ironwood Investment Management LLC now owns 8,354 shares of the company's stock valued at $1,361,000 after buying an additional 68 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Zoetis Stock Down 0.2%

Shares of Zoetis stock traded down $0.31 during midday trading on Monday, hitting $155.86. The company's stock had a trading volume of 1,923,827 shares, compared to its average volume of 2,561,143. The firm has a market capitalization of $69.39 billion, a P/E ratio of 27.98, a PEG ratio of 2.59 and a beta of 0.94. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The stock has a 50-day simple moving average of $160.40 and a 200-day simple moving average of $162.52.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the company posted $1.38 EPS. Zoetis's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. Zoetis's dividend payout ratio is currently 35.91%.

Analysts Set New Price Targets

ZTS has been the subject of several research reports. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Piper Sandler increased their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, UBS Group cut their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $212.13.

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.