Ethic Inc. Grows Position in Zoetis Inc. $ZTS

Key Points

• Ethic Inc. has increased its stake in Zoetis Inc. by 5.7%, owning 48,055 shares valued at approximately $7.78 million according to its latest SEC filing.
• Several other institutional investors significantly increased their positions in Zoetis during the 1st quarter, including Nuveen LLC with a new position worth about $616 million.
• Zoetis recently reported strong quarterly earnings, with $1.76 earnings per share, surpassing analysts' expectations and reflecting a 4.2% revenue increase from the previous year.

Ethic Inc. increased its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,055 shares of the company's stock after acquiring an additional 2,597 shares during the quarter. Ethic Inc.'s holdings in Zoetis were worth $7,781,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ZTS. Brighton Jones LLC increased its stake in Zoetis by 180.4% in the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock valued at $754,000 after purchasing an additional 2,978 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Zoetis by 5.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company's stock valued at $68,354,000 after purchasing an additional 21,470 shares during the period. XTX Topco Ltd acquired a new position in Zoetis in the fourth quarter valued at $216,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Zoetis in the fourth quarter valued at about $65,000. Finally, Canada Pension Plan Investment Board raised its holdings in Zoetis by 2.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 734,744 shares of the company's stock worth $119,712,000 after purchasing an additional 16,107 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of ZTS stock traded down $1.83 during midday trading on Monday, reaching $152.28. 2,158,515 shares of the company traded hands, compared to its average volume of 3,678,922. The firm's 50 day simple moving average is $154.69 and its two-hundred day simple moving average is $158.90. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The firm has a market cap of $67.49 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.47 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly 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 net margin of 27.83% and a return on equity of 56.90%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $1.56 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 34.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZTS shares. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and lowered their price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group lowered their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Piper Sandler lifted their price objective on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Zoetis presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

Insider Activity

In related 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 sale, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

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.