Rhumbline Advisers Increases Position in Zoetis Inc. (NYSE:ZTS)

Rhumbline Advisers increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,114,804 shares of the company's stock after buying an additional 51,703 shares during the period. Rhumbline Advisers owned about 0.25% of Zoetis worth $183,552,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Zoetis by 10.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after purchasing an additional 279,092 shares during the last quarter. Brighton Jones LLC increased its position in shares of 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. OLD National Bancorp IN increased its position in shares of Zoetis by 31.3% in the 4th quarter. OLD National Bancorp IN now owns 1,552 shares of the company's stock valued at $253,000 after purchasing an additional 370 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Zoetis by 44.2% in the 4th quarter. Cibc World Market Inc. now owns 162,446 shares of the company's stock valued at $26,467,000 after purchasing an additional 49,774 shares during the last quarter. Finally, Hunter Associates Investment Management LLC increased its position in shares of Zoetis by 7.8% in the 4th quarter. Hunter Associates Investment Management LLC now owns 2,009 shares of the company's stock valued at $327,000 after purchasing an additional 146 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

NYSE:ZTS traded up $0.39 during trading hours on Thursday, reaching $168.98. 974,594 shares of the company's stock were exchanged, compared to its average volume of 2,532,438. The firm has a market capitalization of $75.23 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a 50-day moving average of $157.16 and a 200 day moving average of $164.46. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Zoetis's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. Zoetis's payout ratio is currently 35.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ZTS shares. UBS Group lowered their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Piper Sandler upped their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Stifel Nicolaus lowered their target price on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays upped their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $212.75.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. The trade was a 9.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,188 shares of company stock worth $367,289. 0.18% of the stock is owned by insiders.

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.