Hartford Funds Management Co LLC Grows Stock Position in Zoetis Inc. (NYSE:ZTS)

by · The Markets Daily

Hartford Funds Management Co LLC lifted its stake in Zoetis Inc. (NYSE:ZTS – Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,130 shares of the company’s stock after buying an additional 95 shares during the period. Hartford Funds Management Co LLC’s holdings in Zoetis were worth $416,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Mizuho Securities USA LLC increased its holdings in Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after purchasing an additional 4,829,815 shares during the period. Bank of New York Mellon Corp increased its holdings in Zoetis by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares during the period. Clearbridge Investments LLC increased its holdings in Zoetis by 5.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after purchasing an additional 166,517 shares during the period. Principal Financial Group Inc. increased its holdings in Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after purchasing an additional 351,372 shares during the period. Finally, Sarasin & Partners LLP increased its holdings in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZTS. JPMorgan Chase & Co. boosted their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Finally, Piper Sandler upped their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $221.44.

Read Our Latest Stock Analysis on ZTS

Zoetis Stock Performance

Shares of ZTS opened at $176.96 on Friday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average price is $185.62 and its 200-day moving average price is $180.61. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The stock has a market cap of $79.84 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS – Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Zoetis Company Profile

(Free Report)

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.

Further Reading

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