Gateway Investment Advisers LLC Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

Posted by on Mar 25th, 2023

Gateway Investment Advisers LLC boosted its position in shares of Zoetis Inc. (NYSE:ZTS – Get Rating) by 25.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,226 shares of the company’s stock after acquiring an additional 451 shares during the period. Gateway Investment Advisers LLC’s holdings in Zoetis were worth $326,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ZTS. Arrowstreet Capital Limited Partnership grew its stake in Zoetis by 171.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,326,448 shares of the company’s stock valued at $627,335,000 after acquiring an additional 2,102,306 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Zoetis by 624.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 896,569 shares of the company’s stock valued at $131,392,000 after acquiring an additional 772,828 shares in the last quarter. Renaissance Technologies LLC grew its stake in Zoetis by 359.6% during the first quarter. Renaissance Technologies LLC now owns 922,274 shares of the company’s stock valued at $173,932,000 after acquiring an additional 721,600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Zoetis by 240.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 940,581 shares of the company’s stock valued at $139,479,000 after acquiring an additional 664,410 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Zoetis by 21.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,999,335 shares of the company’s stock valued at $565,645,000 after acquiring an additional 527,760 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Zoetis Stock Up 1.8 %

Shares of NYSE ZTS opened at $164.18 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.37 and a debt-to-equity ratio of 1.49. Zoetis Inc. has a 52 week low of $124.15 and a 52 week high of $201.32. The firm’s fifty day moving average is $166.02 and its 200 day moving average is $155.49. The company has a market cap of $76.08 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.50 and a beta of 0.76.

Zoetis (NYSE:ZTS – Get Rating) last released its earnings results on Tuesday, February 14th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Zoetis had a net margin of 26.16% and a return on equity of 50.20%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS. On average, equities research analysts expect that Zoetis Inc. will post 5.39 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, April 21st will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, April 20th. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Zoetis from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, February 21st. StockNews.com assumed coverage on shares of Zoetis in a research report on Thursday, March 16th. They set a “buy” rating for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis has an average rating of “Buy” and an average target price of $223.83.

About Zoetis

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Zoetis, Inc engages in the discovery, development, manufacture, and commercialization of medicines, vaccines, diagnostic products and services, biodevices, genetic tests, and precision animal health technology. The firm operates through the United States and International geographical segments. The United States segment is involved in U.S.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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