Zoetis Inc. $ZTS Stock Position Raised by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Zoetis stake by 1,867.8% in the third quarter, to 61,276 shares valued at about $4.3 million. Institutional investors collectively own 92.8% of the company.
• Zoetis reported quarterly earnings of $1.75 per share, beating the $1.51 estimate, and revenue of $2.39 billion, above expectations; revenue nevertheless fell 1.3% year over year.
• Zoetis announced a quarterly dividend of $0.53 per share, equivalent to a 2.6% yield. Analysts’ consensus rating was Hold, with an average price target of $101.25.

Fulcrum Asset Management LLP raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 1,867.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,276 shares of the company's stock after purchasing an additional 58,162 shares during the quarter. Fulcrum Asset Management LLP's holdings in Zoetis were worth $4,308,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ZTS. Wealthfront Advisers LLC boosted its holdings in shares of Zoetis by 80.2% during the 2nd quarter. Wealthfront Advisers LLC now owns 76,113 shares of the company's stock worth $5,469,000 after buying an additional 33,873 shares during the period. Pacer Advisors Inc. raised its holdings in Zoetis by 16.7% in the 1st quarter. Pacer Advisors Inc. now owns 165,570 shares of the company's stock valued at $19,572,000 after acquiring an additional 23,687 shares during the period. Diamond Hill Capital Management LLC Investment Advisor raised its holdings in Zoetis by 21.5% in the 2nd quarter. Diamond Hill Capital Management LLC Investment Advisor now owns 3,557,436 shares of the company's stock valued at $255,637,000 after acquiring an additional 629,974 shares during the period. Nykredit A S acquired a new stake in Zoetis during the second quarter worth approximately $10,042,000. Finally, Flossbach Von Storch SE acquired a new stake in Zoetis during the second quarter worth approximately $302,601,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Trading Up 3.5%

Shares of ZTS stock opened at $82.17 on Tuesday. Zoetis Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $132.49. The stock's fifty day moving average price is $75.77 and its two-hundred day moving average price is $92.39. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.84 and a current ratio of 3.08. The company has a market cap of $33.95 billion, a PE ratio of 13.97, a P/E/G ratio of 1.32 and a beta of 0.67.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.24. Zoetis had a return on equity of 74.89% and a net margin of 27.49%. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.30 billion. During the same quarter in the previous year, the firm earned $1.70 EPS. Zoetis's revenue was down 1.3% on a year-over-year basis. Equities analysts predict that Zoetis Inc. will post 6.25 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, October 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.12 annualized dividend and a yield of 2.6%. Zoetis's payout ratio is presently 36.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald set a $94.00 price objective on Zoetis in a report on Tuesday, August 25th. JPMorgan Chase & Co. lowered their target price on Zoetis from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Zacks Research raised Zoetis from a "strong sell" rating to a "hold" rating in a report on Monday, October 26th. William Blair cut Zoetis from an "outperform" rating to a "market perform" rating in a report on Thursday, August 6th. Finally, BTIG Research dropped coverage on Zoetis in a research note on Friday, October 30th. They issued a "buy" rating and a $200.00 price target for the company. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $101.25.

Zoetis Profile

Zoetis is an animal health company that discovers, develops, manufactures and markets medicines, vaccines, diagnostic products and other services for animals. Its products support both companion animals, such as dogs and cats, and livestock, including cattle, pigs, poultry, sheep and fish.

The company's offerings include treatments for pain, infections and skin conditions, as well as vaccines, parasiticides, diagnostic tools and genetic testing services. Zoetis serves veterinarians, livestock producers and other animal health professionals around the world.

Zoetis originated as Pfizer's animal health business and became an independent public company in 2013.

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