Zoetis Inc. (NYSE:ZTS) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in Zoetis Inc. (NYSE:ZTS) by 14.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,016 shares of the company’s stock after acquiring an additional 7,615 shares during the quarter. Pacer Advisors Inc.’s holdings in Zoetis were worth $9,882,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Schroder Investment Management Group lifted its stake in Zoetis by 2.6% during the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company’s stock valued at $40,036,000 after buying an additional 6,169 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Zoetis by 24.7% during the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock valued at $5,550,000 after acquiring an additional 6,672 shares during the period. Tandem Investment Advisors Inc. lifted its position in shares of Zoetis by 100.3% in the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock valued at $65,140,000 after acquiring an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Zoetis by 31.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,760 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new position in Zoetis in the 1st quarter worth approximately $380,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZTS. Piper Sandler boosted their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Leerink Partnrs lowered Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. 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. Finally, Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.63.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $151.92 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The business’s 50-day moving average price is $159.91 and its two-hundred day moving average price is $160.96. The company has a market capitalization of $67.64 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.52 and a beta of 0.91.

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

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Zoetis’s dividend payout ratio (DPR) is 35.91%.

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.