Jupiter Asset Management Ltd. Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Key Points

• Jupiter Asset Management Ltd. has acquired a new stake in Zoetis Inc., purchasing 13,838 shares valued at approximately $2.28 million during the first quarter.
• Multiple institutional investors, including Portside Wealth Group LLC and Tandem Investment Advisors Inc., have increased their holdings in Zoetis, indicating strong institutional interest in the company.
• Zoetis reported a quarterly EPS of $1.48, exceeding analyst expectations, and announced a quarterly dividend of $0.50, representing an annualized yield of 1.4%.

Jupiter Asset Management Ltd. purchased a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,838 shares of the company's stock, valued at approximately $2,278,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Zoetis by 180.4% in the 4th 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 last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Zoetis by 5.4% in the 4th 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 last quarter. Arete Wealth Advisors LLC boosted its holdings in Zoetis by 74.0% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,848 shares of the company's stock valued at $301,000 after purchasing an additional 786 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in Zoetis by 2.2% in the 4th quarter. Peapack Gladstone Financial Corp now owns 78,687 shares of the company's stock valued at $12,821,000 after purchasing an additional 1,683 shares during the last quarter. Finally, Bell Asset Management Ltd boosted its holdings in Zoetis by 12.1% in the 4th quarter. Bell Asset Management Ltd now owns 40,581 shares of the company's stock valued at $6,612,000 after purchasing an additional 4,371 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE:ZTS traded up $4.93 during trading hours on Monday, reaching $152.31. 6,269,265 shares of the company's stock were exchanged, compared to its average volume of 3,305,504. The firm has a market capitalization of $67.81 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 2.44 and a beta of 0.88. The company has a 50-day moving average of $158.29 and a 200 day moving average of $160.26. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the business earned $1.38 EPS. The business's revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Zoetis's dividend payout ratio (DPR) is 35.91%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

About Zoetis

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.