Canoe Financial LP Takes Position in Zoetis Inc. (NYSE:ZTS)

Canoe Financial LP acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,394 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Zoetis by 0.3% in 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Zoetis by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock valued at $1,726,075,000 after purchasing an additional 190,137 shares in the last quarter. Polen Capital Management LLC lifted its stake 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 in the last quarter. Wellington Management Group LLP lifted its stake in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after purchasing an additional 3,059,255 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Zoetis by 13.3% in the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company’s stock valued at $1,047,052,000 after purchasing an additional 755,893 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the sale, the executive vice president now directly owns 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $157.26 on Friday. 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 Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The stock’s 50 day moving average is $159.58 and its two-hundred day moving average is $163.40. The company has a market capitalization of $70.01 billion, a PE ratio of 28.23, a P/E/G ratio of 2.57 and a beta of 0.94.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $1.38 EPS. Zoetis’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. Zoetis’s dividend payout ratio (DPR) is 35.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $160.00 in a research note on Wednesday. Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Piper Sandler raised their target price on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, UBS Group dropped their target price on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus target price 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.