Intact Investment Management Inc. Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Intact Investment Management Inc. raised its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 475.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,300 shares of the company's stock after buying an additional 1,900 shares during the period. Intact Investment Management Inc.'s holdings in Zoetis were worth $379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its position in shares of Zoetis by 2.6% during the 4th quarter. Schroder Investment Management Group now owns 245,726 shares of the company's stock valued at $40,036,000 after acquiring an additional 6,169 shares during the period. Vanguard Group Inc. grew its position in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock valued at $6,739,905,000 after acquiring an additional 120,158 shares during the period. Portside Wealth Group LLC grew its position in shares of Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after acquiring an additional 6,672 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Zoetis by 72.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 93,114 shares of the company's stock valued at $15,171,000 after acquiring an additional 39,114 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Zoetis during the 4th quarter valued at approximately $37,298,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Up 1.4%

ZTS opened at $157.26 on Monday. The company has a 50 day moving average of $159.58 and a 200 day moving average of $163.23. The company has a market cap of $70.01 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.61 and a beta of 0.94. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. 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 (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. Zoetis's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. On average, sell-side analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The company 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 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 15,129 shares of the company's stock, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ZTS. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and reduced their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. 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 report on Monday, May 12th. UBS Group reduced their target price 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. Finally, Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.

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