Mackenzie Financial Corp Reduces Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Mackenzie Financial Corp reduced its stake in Zoetis Inc. (NYSE:ZTS) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,245 shares of the company’s stock after selling 10,575 shares during the period. Mackenzie Financial Corp’s holdings in Zoetis were worth $30,246,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Zoetis during the first quarter worth approximately $134,000. Sequoia Financial Advisors LLC grew its position in shares of Zoetis by 5.3% during the first quarter. Sequoia Financial Advisors LLC now owns 4,166 shares of the company’s stock worth $786,000 after acquiring an additional 211 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Zoetis by 3.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 51,581 shares of the company’s stock worth $9,727,000 after acquiring an additional 1,914 shares during the last quarter. Covestor Ltd grew its position in shares of Zoetis by 102.8% during the first quarter. Covestor Ltd now owns 724 shares of the company’s stock worth $137,000 after acquiring an additional 367 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Zoetis by 92.8% during the first quarter. Merit Financial Group LLC now owns 2,342 shares of the company’s stock worth $442,000 after acquiring an additional 1,127 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday. The Goldman Sachs Group raised their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays increased their price target on Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Stifel Nicolaus decreased their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $221.75.

Zoetis Price Performance

Zoetis stock opened at $151.94 on Thursday. Zoetis Inc. has a one year low of $148.48 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The business has a fifty day moving average of $177.35 and a two-hundred day moving average of $180.39. The company has a market cap of $69.49 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the business posted $1.15 EPS. Zoetis’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s dividend payout ratio (DPR) is currently 34.12%.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the transaction, the executive vice president now owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by corporate insiders.

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.