Galvin Gaustad & Stein LLC Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Key Points

• Galvin Gaustad & Stein LLC has purchased 64,846 shares of Zoetis Inc., valued at approximately $10.7 million, marking a significant investment during the first quarter.
• The company's most recent earnings report showed an EPS of $1.48, exceeding analyst estimates, with revenue reaching $2.22 billion, reflecting a 1.4% increase compared to the previous year.
• Zoetis will pay a quarterly dividend of $0.50 on September 3rd, which translates to an annualized yield of 1.32%.

Galvin Gaustad & Stein LLC bought a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 64,846 shares of the company's stock, valued at approximately $10,677,000.

A number of other institutional investors have also modified their holdings of ZTS. Brighton Jones LLC raised its stake 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 buying an additional 2,978 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Zoetis by 5.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company's stock worth $68,354,000 after buying an additional 21,470 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Zoetis by 2.8% during the 4th quarter. DnB Asset Management AS now owns 83,014 shares of the company's stock worth $13,525,000 after buying an additional 2,257 shares during the last quarter. Allstate Corp acquired a new position in shares of Zoetis during the 4th quarter worth $2,186,000. Finally, L & S Advisors Inc raised its stake in Zoetis by 10.3% in the 4th quarter. L & S Advisors Inc now owns 15,905 shares of the company's stock valued at $2,591,000 after purchasing an additional 1,490 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZTS shares. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and cut their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. UBS Group reduced their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler increased their target price on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis has a consensus rating of "Moderate Buy" and an average price target of $204.63.

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $1.71 during trading on Thursday, hitting $147.10. 1,902,619 shares of the stock were exchanged, compared to its average volume of 3,039,479. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a market capitalization of $65.49 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.50 and a beta of 0.91. The company's fifty day simple moving average is $159.14 and its 200-day simple moving average is $160.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Sell-side analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company 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 dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. Zoetis's payout ratio is presently 35.91%.

Zoetis Company 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.