Great Lakes Retirement Inc. Takes $1.94 Million Position in Zoetis Inc. (NYSE:ZTS)

Great Lakes Retirement Inc. bought a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,776 shares of the company's stock, valued at approximately $1,939,000.

Several other institutional investors and hedge funds have also made changes to their positions in ZTS. Mission Wealth Management LP increased its position in Zoetis by 2.0% during the 4th quarter. Mission Wealth Management LP now owns 2,938 shares of the company's stock worth $479,000 after purchasing an additional 59 shares during the period. VeraBank N.A. increased its position in Zoetis by 4.1% during the 4th quarter. VeraBank N.A. now owns 1,562 shares of the company's stock worth $254,000 after purchasing an additional 62 shares during the period. HUB Investment Partners LLC boosted its stake in shares of Zoetis by 4.7% during the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company's stock worth $224,000 after acquiring an additional 62 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in Zoetis by 18.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after buying an additional 64 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its stake in Zoetis by 6.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company's stock valued at $170,000 after buying an additional 65 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Down 2.7%

Shares of NYSE ZTS opened at $164.27 on Monday. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a market cap of $73.13 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $158.67 and a 200 day moving average price of $163.83.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.38 EPS. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ZTS shares. UBS Group reduced their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler increased 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. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus reduced their price target on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $212.75.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the firm'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 directly owns 15,129 shares in the company, 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 at this hyperlink. Insiders own 0.18% 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.

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