CIBC Asset Management Inc Acquires 46,050 Shares of Zoetis Inc. (NYSE:ZTS)

CIBC Asset Management Inc raised its stake in Zoetis Inc. (NYSE:ZTS) by 24.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,369 shares of the company’s stock after purchasing an additional 46,050 shares during the period. CIBC Asset Management Inc’s holdings in Zoetis were worth $38,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Zoetis during the third quarter worth about $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis in the 3rd quarter valued at $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Zoetis during the 3rd quarter worth about $33,000. Dunhill Financial LLC lifted its holdings in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS opened at $157.54 on Monday. The firm has a market cap of $71.08 billion, a P/E ratio of 29.61, a PEG ratio of 2.77 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm’s 50 day moving average price is $168.51 and its two-hundred day moving average price is $178.78.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. On average, analysts forecast that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.27%. Zoetis’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

ZTS has been the subject of several recent analyst reports. Leerink Partners assumed coverage on shares of Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. UBS Group started coverage on Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Stifel Nicolaus lowered their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays increased their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Piper Sandler cut their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $214.90.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.