Jensen Investment Management Inc. Reduces Holdings in Zoetis Inc. $ZTS

Jensen Investment Management Inc. cut its holdings in Zoetis Inc. (NYSE:ZTS) by 45.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 883,924 shares of the company’s stock after selling 731,507 shares during the period. Zoetis accounts for about 1.6% of Jensen Investment Management Inc.’s portfolio, making the stock its 22nd largest holding. Jensen Investment Management Inc.’s holdings in Zoetis were worth $129,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock worth $754,000 after purchasing an additional 2,978 shares during the last quarter. Empowered Funds LLC boosted its stake in Zoetis by 6.2% during the first quarter. Empowered Funds LLC now owns 11,293 shares of the company’s stock worth $1,859,000 after buying an additional 657 shares during the period. Intech Investment Management LLC increased its position in shares of Zoetis by 17.2% during the first quarter. Intech Investment Management LLC now owns 8,347 shares of the company’s stock valued at $1,374,000 after acquiring an additional 1,224 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Zoetis by 73.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,348 shares of the company’s stock valued at $522,000 after acquiring an additional 1,422 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Zoetis by 17.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 20,997 shares of the company’s stock worth $3,274,000 after acquiring an additional 3,191 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings cut Zoetis from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, January 28th. BTIG Research reiterated a “buy” rating and issued a $160.00 price objective on shares of Zoetis in a report on Wednesday, December 3rd. The Goldman Sachs Group raised Zoetis to a “buy” rating in a research note on Monday, December 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 target price (down from $190.00) on shares of Zoetis in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $152.45.

Zoetis Stock Performance

Shares of ZTS stock opened at $128.13 on Wednesday. The firm has a fifty day moving average price of $124.03 and a 200 day moving average price of $135.84. The company has a market cap of $56.47 billion, a P/E ratio of 21.57, a PEG ratio of 2.20 and a beta of 0.96. Zoetis Inc. has a 12 month low of $115.25 and a 12 month high of $177.00. The company has a current ratio of 3.64, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 1.7%. Zoetis’s payout ratio is presently 35.69%.

Zoetis Company Profile

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.