State of Michigan Retirement System Purchases 100 Shares of Zoetis Inc. (NYSE:ZTS)

State of Michigan Retirement System grew its holdings in Zoetis Inc. (NYSE:ZTS) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,464 shares of the company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Zoetis were worth $22,076,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Zoetis by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock worth $7,960,912,000 after acquiring an additional 536,477 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Zoetis by 2.5% during the third quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock valued at $2,147,730,000 after purchasing an additional 297,044 shares during the last quarter. Capital World Investors increased its holdings in shares of Zoetis by 0.6% in the fourth quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares in the last quarter. Finally, Norges Bank bought a new position in Zoetis in the 4th quarter worth approximately $980,646,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 1.3 %

ZTS opened at $174.81 on Wednesday. The stock has a market capitalization of $79.77 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.69 and a beta of 0.86. The firm’s fifty day simple moving average is $169.23 and its 200 day simple moving average is $178.40. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is currently 33.33%.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Finally, Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $211.75.

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.