Wellington Management Group LLP Increases Stake in Zoetis Inc. (NYSE:ZTS)

Wellington Management Group LLP raised its holdings in Zoetis Inc. (NYSE:ZTS) by 78.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,958,543 shares of the company’s stock after buying an additional 3,059,255 shares during the period. Wellington Management Group LLP’s holdings in Zoetis were worth $1,133,755,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Zoetis in the fourth quarter valued at $824,321,000. Raymond James Financial Inc. purchased a new position in shares of Zoetis in the 4th quarter valued at about $196,651,000. Polen Capital Management LLC grew its position in shares of Zoetis by 17.5% during the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after buying an additional 1,116,541 shares in the last quarter. Amundi increased its stake in shares of Zoetis by 46.2% during the fourth quarter. Amundi now owns 2,748,719 shares of the company’s stock worth $453,355,000 after buying an additional 867,993 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Zoetis by 296.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after buying an additional 665,331 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $163.03 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $73.00 billion, a P/E ratio of 29.80, a PEG ratio of 2.78 and a beta of 0.94. The business has a 50 day simple moving average of $166.40 and a 200-day simple moving average of $174.44. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. Zoetis’s payout ratio is 36.56%.

Insider Buying and Selling at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ZTS. Leerink Partnrs upgraded shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Morgan Stanley lowered their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. Finally, Piper Sandler upped their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $215.90.

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.