MQS Management LLC Buys Shares of 2,617 Zoetis Inc. (NYSE:ZTS)

MQS Management LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 2,617 shares of the company’s stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Investment Managers International boosted its stake in Zoetis by 19.1% during the 1st quarter. Natixis Investment Managers International now owns 219,243 shares of the company’s stock valued at $37,098,000 after acquiring an additional 35,220 shares during the last quarter. Natixis increased its position in shares of Zoetis by 282.6% in the 1st quarter. Natixis now owns 217,374 shares of the company’s stock worth $36,782,000 after purchasing an additional 160,562 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Zoetis in the 1st quarter valued at about $3,384,000. Tiemann Investment Advisors LLC lifted its position in shares of Zoetis by 13.7% during the first quarter. Tiemann Investment Advisors LLC now owns 1,620 shares of the company’s stock worth $274,000 after purchasing an additional 195 shares during the last quarter. Finally, Pitcairn Co. grew its stake in Zoetis by 7.8% in the first quarter. Pitcairn Co. now owns 34,825 shares of the company’s stock worth $5,893,000 after purchasing an additional 2,507 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of ZTS traded up $1.10 during midday trading on Thursday, reaching $180.76. The stock had a trading volume of 2,445,077 shares, compared to its average volume of 2,829,597. The firm’s 50 day moving average price is $174.40 and its 200-day moving average price is $176.41. The company has a market capitalization of $82.48 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. On average, analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. The Goldman Sachs Group decreased their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Barclays lowered their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC dropped their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, BTIG Research initiated coverage on shares of Zoetis in a report on Thursday. They set a “buy” rating and a $220.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average price target of $212.67.

Zoetis 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.