CWA Asset Management Group LLC Purchases New Position in Zoetis Inc. (NYSE:ZTS)

Posted by Defense World Staff on Mar 19th, 2023

CWA Asset Management Group LLC purchased a new stake in Zoetis Inc. (NYSE:ZTS – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,566 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds have also modified their holdings of ZTS. Arrowstreet Capital Limited Partnership raised its holdings in Zoetis by 171.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,326,448 shares of the company’s stock worth $627,335,000 after buying an additional 2,102,306 shares during the period. Renaissance Technologies LLC raised its holdings in Zoetis by 359.6% during the 1st quarter. Renaissance Technologies LLC now owns 922,274 shares of the company’s stock worth $173,932,000 after buying an additional 721,600 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Zoetis by 240.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 940,581 shares of the company’s stock worth $139,479,000 after buying an additional 664,410 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Zoetis by 21.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,999,335 shares of the company’s stock worth $565,645,000 after buying an additional 527,760 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Zoetis by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,010,124 shares of the company’s stock worth $1,720,640,000 after buying an additional 504,073 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

NYSE:ZTS opened at $164.47 on Friday. Zoetis Inc. has a 1-year low of $124.15 and a 1-year high of $201.32. The company has a current ratio of 2.37, a quick ratio of 1.63 and a debt-to-equity ratio of 1.49. The firm has a fifty day simple moving average of $165.25 and a 200 day simple moving average of $155.25. The stock has a market capitalization of $76.21 billion, a PE ratio of 36.55, a P/E/G ratio of 2.57 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, meeting the consensus estimate of $1.15. Zoetis had a net margin of 26.16% and a return on equity of 50.20%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the business earned $1.00 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that Zoetis Inc. will post 5.39 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, April 21st will be paid a $0.375 dividend. The ex-dividend date is Thursday, April 20th. This represents a $1.50 annualized dividend and a dividend yield of 0.91%. Zoetis’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZTS shares. Barclays lifted their price objective on shares of Zoetis from $250.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st. StockNews.com started coverage on shares of Zoetis in a report on Thursday. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target 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.