Bank OZK Raises Stake in Zoetis Inc. $ZTS

Key Points

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Bank OZK lifted its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 702.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,567 shares of the company's stock after purchasing an additional 11,877 shares during the quarter. Bank OZK's holdings in Zoetis were worth $2,234,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Zoetis by 73.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 526,492 shares of the company's stock worth $86,682,000 after purchasing an additional 223,295 shares during the period. Financial Advisors Network Inc. purchased a new stake in shares of Zoetis during the 1st quarter worth about $300,000. Quantbot Technologies LP grew its holdings in shares of Zoetis by 234.4% during the 1st quarter. Quantbot Technologies LP now owns 53,260 shares of the company's stock worth $8,769,000 after purchasing an additional 37,334 shares during the period. Qtron Investments LLC grew its holdings in shares of Zoetis by 65.0% during the 1st quarter. Qtron Investments LLC now owns 8,571 shares of the company's stock worth $1,411,000 after purchasing an additional 3,375 shares during the period. Finally, Sand Hill Global Advisors LLC grew its holdings in shares of Zoetis by 6.1% during the 1st quarter. Sand Hill Global Advisors LLC now owns 19,163 shares of the company's stock worth $3,155,000 after purchasing an additional 1,098 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZTS shares. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group reduced 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. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Piper Sandler upped their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Zoetis presently has an average rating of "Moderate Buy" and an average price target of $202.43.

Zoetis Stock Performance

Shares of ZTS opened at $152.28 on Tuesday. The business's 50 day moving average is $154.69 and its two-hundred day moving average is $158.90. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The firm has a market cap of $67.49 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.47 and a beta of 0.88. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $1.56 EPS. Zoetis's quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is presently 34.42%.

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.

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