S Bank Fund Management Ltd Buys New Shares in Zoetis Inc. (NYSE:ZTS)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Zoetis Inc., purchasing 12,602 shares worth approximately $2,075,000 during the first quarter.
• Zoetis recently reported a quarterly earnings per share (EPS) of $1.76, exceeding analysts' estimates and showing a 4.2% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.50 that will be paid on September 3rd, representing a 1.3% yield based on an annualized dividend of $2.00.

S Bank Fund Management Ltd bought a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,602 shares of the company's stock, valued at approximately $2,075,000.

Other hedge funds have also recently made changes to their positions in the company. Portside Wealth Group LLC grew its position in Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after purchasing an additional 6,672 shares during the period. Tandem Investment Advisors Inc. grew its position in Zoetis by 100.3% during the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after purchasing an additional 198,089 shares during the period. Flagship Harbor Advisors LLC grew its position in Zoetis by 31.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock worth $1,217,000 after purchasing an additional 1,760 shares during the period. Horizon Financial Services LLC acquired a new stake in shares of Zoetis during the 1st quarter valued at about $380,000. Finally, Sage Rhino Capital LLC grew its position in shares of Zoetis by 117.6% during the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after acquiring an additional 3,791 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction that occurred 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 sale, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Zoetis Trading Up 0.5%

ZTS opened at $149.72 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The company's 50 day simple moving average is $155.89 and its two-hundred day simple moving average is $159.50. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The firm has a market capitalization of $66.35 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88.

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

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 34.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. UBS Group decreased 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. Finally, Piper Sandler raised their price target on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.