Ninepoint Partners LP Invests $720,000 in Zoetis Inc. (NYSE:ZTS)

Ninepoint Partners LP acquired a new position in Zoetis Inc. (NYSE:ZTS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,650 shares of the company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Enterprise Financial Services Corp increased its stake in shares of Zoetis by 2.3% in the 1st quarter. Enterprise Financial Services Corp now owns 2,446 shares of the company’s stock worth $407,000 after purchasing an additional 55 shares in the last quarter. CreativeOne Wealth LLC increased its stake in Zoetis by 0.4% in the 2nd quarter. CreativeOne Wealth LLC now owns 12,833 shares of the company’s stock worth $2,210,000 after buying an additional 57 shares in the last quarter. River Street Advisors LLC increased its stake in Zoetis by 3.4% in the 4th quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock worth $347,000 after buying an additional 58 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Zoetis by 0.3% in the 4th quarter. Perigon Wealth Management LLC now owns 23,581 shares of the company’s stock worth $4,654,000 after buying an additional 59 shares in the last quarter. Finally, TFC Financial Management Inc. increased its stake in Zoetis by 3.3% in the 3rd quarter. TFC Financial Management Inc. now owns 1,918 shares of the company’s stock worth $334,000 after buying an additional 61 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Trading Down 3.5 %

Shares of NYSE:ZTS traded down $5.31 during trading on Friday, reaching $147.80. The company’s stock had a trading volume of 3,162,858 shares, compared to its average volume of 2,990,773. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 12 month low of $147.11 and a 12 month high of $201.92. The firm’s 50 day simple moving average is $176.49 and its two-hundred day simple moving average is $180.20. The stock has a market capitalization of $67.60 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.85.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business posted $1.15 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Zoetis Inc. will post 5.79 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, April 18th. Zoetis’s payout ratio is currently 34.12%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZTS. Stifel Nicolaus cut their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Barclays increased their price target on Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price objective on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $221.75.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the sale, the executive vice president now owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,209 shares of company stock valued at $371,293 over the last 90 days. Insiders own 0.12% of the company’s stock.

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.