Zoetis Inc. (NYSE:ZTS) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in Zoetis Inc. by 54.6% in Q1, owning 477,790 shares valued at approximately $78.66 million.
• Zoetis reported earnings of $1.76 per share for the last quarter, surpassing estimates, with quarterly revenue reaching $2.46 billion, up 4.2% from the previous year.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annual yield of 1.4%, to be paid on September 3rd.

National Bank of Canada FI lifted its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 54.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,790 shares of the company's stock after buying an additional 168,665 shares during the period. National Bank of Canada FI owned approximately 0.11% of Zoetis worth $78,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ZTS. Navigoe LLC purchased a new stake in shares of Zoetis in the fourth quarter worth about $30,000. Cornerstone Planning Group LLC boosted its position in shares of Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after buying an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after buying an additional 120 shares during the period. Sound Income Strategies LLC boosted its position in shares of Zoetis by 141.4% in 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 position in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Up 0.5%

NYSE ZTS traded up $0.70 on Tuesday, hitting $149.72. 2,578,354 shares of the stock traded hands, compared to its average volume of 3,116,346. The stock has a 50-day moving average of $156.30 and a 200 day moving average of $159.57. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company has a market capitalization of $66.35 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.88. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. Zoetis's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders 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 yield of 1.3%. Zoetis's dividend payout ratio is presently 34.42%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on 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 reissued an "overweight" rating and issued a $215.00 price target (up previously from $210.00) on shares of Zoetis in a report on Monday. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Stifel Nicolaus downgraded 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 report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.25.

Insider Transactions at Zoetis

In other Zoetis 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 transaction of $110,840.00. Following the sale, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is owned by 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.