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CCLA Investment Management Increases Position in Zoetis Inc. (NYSE:ZTS)

Zoetis logo with Medical background

Key Points

  • CCLA Investment Management has increased its stake in Zoetis Inc. by 10.1%, owning now 835,214 shares valued at approximately $137 million.
  • Zoetis will pay a quarterly dividend of $0.50 per share on September 3rd, representing an annualized yield of 1.4%.
  • Recent research reports show mixed ratings for Zoetis from various analysts, with four holding, six buying, and one giving a strong buy recommendation.
  • Five stocks we like better than Zoetis.

CCLA Investment Management increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 835,214 shares of the company's stock after acquiring an additional 76,879 shares during the quarter. Zoetis makes up approximately 2.4% of CCLA Investment Management's holdings, making the stock its 13th biggest holding. CCLA Investment Management owned approximately 0.19% of Zoetis worth $137,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Navigoe LLC acquired a new stake in shares of Zoetis during the fourth quarter worth $30,000. Cornerstone Planning Group LLC increased its stake in Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the last quarter. Sound Income Strategies LLC lifted its position in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after buying an additional 164 shares during the period. Finally, Bfsg LLC boosted its stake in Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after buying an additional 252 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZTS. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group dropped their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Piper Sandler lifted their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $204.63.

Check Out Our Latest Research Report on ZTS

Zoetis Stock Performance

NYSE:ZTS opened at $147.40 on Friday. The firm's fifty day simple moving average is $158.51 and its 200 day simple moving average is $160.42. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The firm has a market capitalization of $65.62 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.44 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data 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 return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $1.38 earnings per share. The firm's revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is currently 35.91%.

Insiders Place Their Bets

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

About Zoetis

(Free Report)

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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Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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