Concurrent Investment Advisors LLC Raises Stake in Zoetis Inc. (NYSE:ZTS)

Concurrent Investment Advisors LLC boosted its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 20.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 17,806 shares of the company's stock after acquiring an additional 3,041 shares during the period. Concurrent Investment Advisors LLC's holdings in Zoetis were worth $2,932,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Zoetis in the fourth quarter valued at about $824,321,000. Wellington Management Group LLP lifted its stake in shares of Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after buying an additional 3,059,255 shares in the last quarter. Sarasin & Partners LLP purchased a new position in shares of Zoetis in the first quarter worth about $339,111,000. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 1,747,423 shares in the last quarter. Finally, Polen Capital Management LLC lifted its stake in shares of Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock worth $1,219,237,000 after buying an additional 1,116,541 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Up 2.0%

Shares of ZTS traded up $3.07 during trading on Tuesday, reaching $160.12. 517,697 shares of the company traded hands, compared to its average volume of 2,566,393. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The stock has a market cap of $71.29 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.64 and a beta of 0.91. The stock has a 50-day simple moving average of $161.23 and a 200-day simple moving average of $162.02. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results 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. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period last year, the business earned $1.38 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the firm's 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 transaction, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ZTS shares. Piper Sandler raised their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. UBS Group cut their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and cut their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of "Buy" and an average price target of $212.13.

About Zoetis

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.