Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Zoetis Inc. (NYSE:ZTS)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Zoetis Inc. (NYSE:ZTS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 53,456 shares of the company’s stock, valued at approximately $8,710,000.

Several other large investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Zoetis by 0.5% during the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company’s stock worth $3,864,488,000 after acquiring an additional 95,856 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Zoetis by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock worth $2,030,813,000 after buying an additional 185,364 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zoetis by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 5,561,910 shares of the company’s stock worth $906,202,000 after buying an additional 433,429 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after acquiring an additional 4,829,815 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zoetis by 5.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock valued at $761,221,000 after acquiring an additional 194,542 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Zoetis stock opened at $161.33 on Friday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The firm has a 50 day moving average price of $166.82 and a 200 day moving average price of $176.15. The company has a market cap of $72.24 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio is currently 36.56%.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ZTS shares. UBS Group started coverage on shares of Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price target on the stock. Piper Sandler raised their price target on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Barclays upped their price objective on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley dropped 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. Finally, Leerink Partners assumed coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $215.90.

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.