4,869 Shares in Zoetis Inc. (NYSE:ZTS) Bought by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,869 shares of the company's stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZTS. Norges Bank bought a new stake in shares of Zoetis in the fourth quarter worth $824,321,000. Wellington Management Group LLP increased its stake in Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after purchasing an additional 3,059,255 shares during the last quarter. Sarasin & Partners LLP bought a new stake in Zoetis during the first quarter valued at $339,111,000. GAMMA Investing LLC increased 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 valued at $289,666,000 after purchasing an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Zoetis during the fourth quarter valued at $196,651,000. Institutional investors own 92.80% of the company's stock.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the sale, the executive vice president now owns 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company's stock.

Zoetis Stock Performance

Shares of ZTS opened at $155.21 on Thursday. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a market cap of $69.10 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The firm has a fifty day moving average of $159.26 and a 200-day moving average of $163.68.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the company from $165.00 to $160.00 in a research note on Wednesday. Finally, UBS Group reduced their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $212.13.

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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.