National Bank of Canada FI Has $69.03 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

National Bank of Canada FI raised its position in shares of Zoetis Inc. (NYSE:ZTS) by 32.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 408,310 shares of the company’s stock after purchasing an additional 99,162 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of Zoetis worth $69,027,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC increased its position in shares of Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the period. Webster Bank N. A. lifted its stake in shares of Zoetis by 89.1% in the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Independence Bank of Kentucky boosted its position in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Zoetis during the fourth quarter worth approximately $33,000. Finally, Gladius Capital Management LP bought a new stake in Zoetis in the fourth quarter worth approximately $40,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 0.1 %

ZTS stock traded up $0.25 during mid-day trading on Wednesday, reaching $179.63. 1,309,270 shares of the company traded hands, compared to its average volume of 2,832,122. The stock has a market cap of $81.96 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.81 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average price is $174.25 and its 200 day moving average price is $176.37. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results 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. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities research analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. Zoetis’s payout ratio is 33.14%.

Analysts Set New Price Targets

Several brokerages have recently commented on ZTS. Stifel Nicolaus reduced their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. HSBC decreased their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Barclays dropped their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $211.75.

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.