Bayesian Capital Management LP Takes $1.66 Million Position in Zoetis Inc. (NYSE:ZTS)

Bayesian Capital Management LP purchased a new position in Zoetis Inc. (NYSE:ZTS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,800 shares of the company’s stock, valued at approximately $1,658,000.

Other hedge funds have also recently made changes to their positions in the company. Woodmont Investment Counsel LLC grew its holdings in shares of Zoetis by 19.3% in the fourth quarter. Woodmont Investment Counsel LLC now owns 1,579 shares of the company’s stock worth $312,000 after acquiring an additional 256 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Zoetis by 49.6% in the 4th quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock worth $78,000 after purchasing an additional 131 shares during the period. Bellecapital International Ltd. boosted its holdings in shares of Zoetis by 5.2% in the fourth quarter. Bellecapital International Ltd. now owns 38,951 shares of the company’s stock worth $7,688,000 after buying an additional 1,922 shares during the last quarter. Secure Asset Management LLC bought a new stake in Zoetis during the fourth quarter valued at approximately $208,000. Finally, PFG Private Wealth Management LLC increased its holdings in Zoetis by 423.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 884 shares of the company’s stock valued at $174,000 after buying an additional 715 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

ZTS remained flat at $181.83 during trading on Tuesday. 2,268,759 shares of the company traded hands, compared to its average volume of 2,807,816. The company has a market cap of $82.97 billion, a P/E ratio of 35.03, a PEG ratio of 2.79 and a beta of 0.86. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The stock has a 50-day moving average price of $174.66 and a 200-day moving average price of $175.89.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts expect that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared 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. This represents a $1.73 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. BTIG Research initiated coverage on Zoetis in a research report on Thursday, July 25th. They issued a “buy” rating and a $220.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. The Goldman Sachs Group reduced their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Finally, HSBC lowered their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $212.67.

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.