Neuberger Berman Group LLC Has $297.06 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Neuberger Berman Group LLC lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,804,179 shares of the company’s stock after selling 119,616 shares during the period. Neuberger Berman Group LLC’s holdings in Zoetis were worth $297,058,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ZTS. Nuveen LLC acquired a new stake in Zoetis during the first quarter worth approximately $616,375,000. Sarasin & Partners LLP acquired a new stake in Zoetis during the first quarter worth approximately $339,111,000. Mackenzie Financial Corp grew its stake in Zoetis by 4,158.3% during the first quarter. Mackenzie Financial Corp now owns 1,824,967 shares of the company’s stock worth $300,481,000 after purchasing an additional 1,782,110 shares during the period. GAMMA Investing LLC grew its stake in Zoetis by 14,731.3% during the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company’s stock worth $289,666,000 after purchasing an additional 1,747,423 shares during the period. Finally, Polen Capital Management LLC grew its stake in Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company’s stock worth $1,448,401,000 after purchasing an additional 1,313,653 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ZTS. Piper Sandler reiterated an “overweight” rating and issued a $215.00 price target (up previously from $210.00) on shares of Zoetis in a report on Monday. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Leerink Partners lowered Zoetis from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Leerink Partnrs lowered Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and cut their price target for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.43.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Up 0.5%

ZTS stock opened at $149.72 on Wednesday. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average is $155.89 and its 200-day moving average is $159.50. The firm has a market capitalization of $66.35 billion, a PE ratio of 25.77, a P/E/G ratio of 2.43 and a beta of 0.88.

Zoetis (NYSE:ZTS) last posted its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis’s dividend payout ratio (DPR) is currently 34.42%.

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.