Sarasin & Partners LLP Invests $255.84 Million in Zoetis Inc. (NYSE:ZTS)

Sarasin & Partners LLP acquired a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,553,855 shares of the company's stock, valued at approximately $255,842,000. Zoetis accounts for about 2.7% of Sarasin & Partners LLP's investment portfolio, making the stock its 13th biggest holding. Sarasin & Partners LLP owned 0.35% of Zoetis at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Zoetis in the 4th quarter valued at about $824,321,000. Wellington Management Group LLP raised its holdings in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after acquiring an additional 3,059,255 shares in the last quarter. GAMMA Investing LLC lifted its stake in Zoetis by 14,731.3% in the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock worth $289,666,000 after acquiring an additional 1,747,423 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Zoetis during the 4th quarter worth approximately $196,651,000. Finally, Polen Capital Management LLC increased its position in shares of Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Barclays upped their price objective on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Piper Sandler raised their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Morgan Stanley lowered their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis has an average rating of "Buy" and a consensus target price of $212.75.

Zoetis Stock Performance

Shares of ZTS stock traded down $4.55 during trading hours on Friday, hitting $164.27. The stock had a trading volume of 2,973,481 shares, compared to its average volume of 2,551,303. The stock's 50 day moving average is $158.67 and its 200 day moving average is $164.01. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The firm has a market capitalization of $73.13 billion, a PE ratio of 30.03, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $1.38 earnings per share. Zoetis's quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business'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 transaction, the executive vice president now directly owns 15,129 shares of the company's stock, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

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.