NorthCoast Asset Management LLC Acquires New Stake in Zoetis Inc. (ZTS)

NorthCoast Asset Management LLC acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 483,714 shares of the company’s stock, valued at approximately $25,816,000. Zoetis comprises 2.4% of NorthCoast Asset Management LLC’s holdings, making the stock its 9th largest position.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in shares of Zoetis by 4.6% in the first quarter. Assetmark Inc. now owns 1,918 shares of the company’s stock valued at $102,000 after buying an additional 85 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Zoetis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,905 shares of the company’s stock valued at $102,000 after buying an additional 13 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Zoetis during the first quarter valued at about $112,000. First Interstate Bank raised its position in shares of Zoetis by 3.5% in the first quarter. First Interstate Bank now owns 2,250 shares of the company’s stock valued at $120,000 after buying an additional 76 shares in the last quarter. Finally, Israel Discount Bank of New York acquired a new position in shares of Zoetis during the first quarter valued at about $129,000. Institutional investors and hedge funds own 98.10% of the company’s stock.

Zoetis Inc. (NYSE ZTS) opened at 62.76 on Wednesday. The firm’s 50-day moving average price is $61.10 and its 200-day moving average price is $55.59. Zoetis Inc. has a 52-week low of $45.28 and a 52-week high of $63.85. The firm has a market cap of $30.80 billion, a P/E ratio of 36.49 and a beta of 1.03.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. Zoetis had a return on equity of 65.35% and a net margin of 17.25%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts expect that Zoetis Inc. will post $2.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, June 15th will be paid a $0.105 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.42 dividend on an annualized basis and a yield of 0.67%. Zoetis’s dividend payout ratio (DPR) is presently 24.42%.

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Several equities analysts recently issued reports on ZTS shares. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, June 20th. Hilliard Lyons started coverage on Zoetis in a research report on Tuesday, June 20th. They issued a “buy” rating and a $77.00 price objective for the company. Argus reiterated a “buy” rating and issued a $69.00 price objective (up from $60.00) on shares of Zoetis in a research report on Tuesday, May 30th. CL King started coverage on Zoetis in a research report on Friday, May 26th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Craig Hallum started coverage on Zoetis in a research report on Wednesday, March 15th. They issued a “buy” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.42.

In other Zoetis news, insider Catherine A. Knupp sold 5,785 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $60.16, for a total value of $348,025.60. Following the completion of the sale, the insider now owns 24,415 shares of the company’s stock, valued at $1,468,806.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Zoetis Company Profile

Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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