GAMMA Investing LLC Grows Stock Holdings in Zoetis Inc. (NYSE:ZTS)

GAMMA Investing LLC raised its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 14,731.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,759,285 shares of the company's stock after acquiring an additional 1,747,423 shares during the period. GAMMA Investing LLC owned approximately 0.39% of Zoetis worth $289,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Callahan Advisors LLC increased its position in shares of Zoetis by 90.4% during the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company's stock valued at $2,135,000 after purchasing an additional 6,221 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Zoetis by 24.1% during the 4th quarter. CIBC Asset Management Inc now owns 237,369 shares of the company's stock valued at $38,617,000 after purchasing an additional 46,050 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Zoetis by 2.6% during the 4th quarter. Schroder Investment Management Group now owns 245,726 shares of the company's stock valued at $40,036,000 after purchasing an additional 6,169 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock valued at $6,739,905,000 after purchasing an additional 120,158 shares during the last quarter. Finally, Alberta Investment Management Corp increased its position in shares of Zoetis by 2,050.0% during the 4th quarter. Alberta Investment Management Corp now owns 30,100 shares of the company's stock valued at $4,904,000 after purchasing an additional 28,700 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

ZTS stock traded down $0.37 during midday trading on Wednesday, hitting $169.93. The company's stock had a trading volume of 810,892 shares, compared to its average volume of 2,524,571. The company has a 50 day moving average of $157.04 and a two-hundred day moving average of $164.43. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $75.65 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion for 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%. The business's revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. On average, analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is 35.91%.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated 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 directly owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. This represents a 9.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ZTS shares. Piper Sandler upped their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Stifel Nicolaus reduced 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. Morgan Stanley reduced 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. Barclays increased their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Zoetis currently has a consensus rating of "Buy" and a consensus price target of $212.75.

Zoetis 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.