Pacer Advisors Inc. Has $9.88 Million Stake in Zoetis Inc. (NYSE:ZTS)

Key Points

• Pacer Advisors Inc. increased its stake in Zoetis Inc. by 14.5%, bringing its total holdings to 60,016 shares valued at approximately $9.88 million.
• Several hedge funds, including Tandem Investment Advisors Inc., significantly raised their positions in Zoetis, reflecting strong institutional interest, with 92.80% of stock currently held by institutional investors.
• Zoetis recently declared a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 1.32%.

Pacer Advisors Inc. boosted its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,016 shares of the company's stock after acquiring an additional 7,615 shares during the period. Pacer Advisors Inc.'s holdings in Zoetis were worth $9,882,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZTS. Coppell Advisory Solutions LLC increased its position in shares of Zoetis by 18.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after purchasing an additional 64 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Zoetis by 1.8% in the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after acquiring an additional 65 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of Zoetis by 5.8% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after buying an additional 70 shares in the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after buying an additional 72 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. boosted its position in shares of Zoetis by 4.4% during the first quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after purchasing an additional 73 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Down 0.9%

Shares of NYSE:ZTS traded down $1.40 during midday trading on Thursday, hitting $147.41. 1,261,528 shares of the company's stock traded hands, compared to its average volume of 3,034,759. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The company has a market cap of $65.63 billion, a PE ratio of 26.46, a P/E/G ratio of 2.50 and a beta of 0.91. The firm's fifty day moving average price is $159.14 and its two-hundred day moving average price is $160.72. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. On average, equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

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. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZTS shares. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Piper Sandler increased their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. UBS Group dropped their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.63.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction dated 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 directly owned 15,129 shares of the company's stock, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company 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.