Renaissance Group LLC Makes New $224,000 Investment in Zoetis Inc. (NYSE:ZTS)

Renaissance Group LLC bought a new stake in Zoetis Inc. (NYSE:ZTSFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,134 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its position in Zoetis by 7.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after buying an additional 6,457 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of Zoetis during the fourth quarter worth $2,776,000. Ninety One UK Ltd boosted its position in Zoetis by 13.1% during the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after purchasing an additional 12,537 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Zoetis by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after purchasing an additional 17,976 shares in the last quarter. Finally, Fiera Capital Corp increased its position in Zoetis by 13.9% in the 4th quarter. Fiera Capital Corp now owns 558,492 shares of the company’s stock worth $110,230,000 after purchasing an additional 68,146 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of NYSE ZTS traded down $0.76 during trading hours on Wednesday, hitting $172.03. 323,504 shares of the company’s stock were exchanged, compared to its average volume of 3,061,489. The stock has a market capitalization of $78.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.70 and a beta of 0.86. The company’s 50-day moving average price is $164.30 and its 200-day moving average price is $179.69. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTSGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the business earned $1.31 earnings per share. Zoetis’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that Zoetis Inc. will post 5.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ZTS. HSBC lowered their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Stifel Nicolaus cut their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group lowered their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $211.75.

Check Out Our Latest Analysis on ZTS

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Zoetis Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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