Lee Danner & Bass Inc. Decreases Holdings in Zoetis Inc. (NYSE:ZTS)

Lee Danner & Bass Inc. cut its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,052 shares of the company’s stock after selling 185 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Zoetis were worth $4,571,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ZTS. Raymond James Financial Inc. bought a new position in shares of Zoetis during the 4th quarter worth $196,651,000. Polen Capital Management LLC grew its stake in shares of Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after acquiring an additional 1,116,541 shares during the period. Amundi grew its stake in shares of Zoetis by 46.2% during the 4th quarter. Amundi now owns 2,748,719 shares of the company’s stock worth $453,355,000 after acquiring an additional 867,993 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Zoetis by 296.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after acquiring an additional 665,331 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Zoetis by 38.3% during the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after acquiring an additional 572,511 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

NYSE:ZTS opened at $163.15 on Friday. The business’s 50-day moving average price is $166.77 and its two-hundred day moving average price is $175.67. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.33. The stock has a market cap of $73.06 billion, a P/E ratio of 29.83, a PEG ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued 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 1.23%. Zoetis’s dividend payout ratio is 36.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZTS. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays raised their target price on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Morgan Stanley cut their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Piper Sandler raised their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus price target of $215.90.

Insider Activity at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at approximately $2,682,770. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,862 shares of company stock valued at $312,254. Corporate insiders own 0.16% of the company’s stock.

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.