New England Research & Management Inc. Has $4.25 Million Holdings in Zoetis Inc. (NYSE:ZTS)

New England Research & Management Inc. boosted its position in shares of Zoetis Inc. (NYSE:ZTS) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,093 shares of the company’s stock after buying an additional 1,525 shares during the quarter. Zoetis accounts for approximately 2.1% of New England Research & Management Inc.’s investment portfolio, making the stock its 8th largest position. New England Research & Management Inc.’s holdings in Zoetis were worth $4,246,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Peak Financial Advisors LLC purchased a new position in Zoetis in the 4th quarter worth about $2,776,000. Focus Financial Network Inc. ADV purchased a new position in Zoetis in the 4th quarter worth about $2,159,000. Price T Rowe Associates Inc. MD increased its stake in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Ninety One UK Ltd increased its stake in Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after purchasing an additional 17,976 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Down 1.8 %

Shares of Zoetis stock opened at $173.37 on Friday. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.74 and a beta of 0.88. 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 Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a 50-day simple moving average of $168.69 and a 200-day simple moving average of $178.81.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. On average, equities research analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ZTS shares. Barclays dropped their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. The Goldman Sachs Group decreased their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus decreased their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $211.75.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Zoetis Company 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.