Zoetis Inc. (NYSE:ZTS) is Banque Pictet & Cie SA’s 6th Largest Position

Banque Pictet & Cie SA increased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,590,473 shares of the company’s stock after buying an additional 18,943 shares during the quarter. Zoetis comprises about 2.8% of Banque Pictet & Cie SA’s holdings, making the stock its 6th largest position. Banque Pictet & Cie SA owned approximately 0.57% of Zoetis worth $422,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Pensionfund Sabic lifted its holdings in Zoetis by 55.6% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock valued at $1,825,000 after acquiring an additional 4,000 shares during the period. PFW Advisors LLC purchased a new position in Zoetis in the 4th quarter valued at about $1,764,000. JPMorgan Chase & Co. grew its stake in Zoetis by 10.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock worth $569,834,000 after acquiring an additional 279,092 shares during the period. Simplify Asset Management Inc. purchased a new stake in Zoetis in the 3rd quarter valued at about $11,684,000. Finally, Nordea Investment Management AB raised its stake in Zoetis by 38.3% during the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after purchasing an additional 572,511 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the 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 sale, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Zoetis Stock Down 4.9 %

Shares of Zoetis stock opened at $165.28 on Friday. The company has a market capitalization of $74.57 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53. The business has a 50-day moving average of $169.08 and a two-hundred day moving average of $179.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. As a group, equities analysts predict that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. Zoetis’s dividend payout ratio (DPR) is currently 37.59%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Leerink Partners began coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target for the company. Stifel Nicolaus lowered their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley dropped their target price on Zoetis from $248.00 to $243.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Piper Sandler decreased their target price on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $214.00.

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.