Baer Investment Advisory LLC Acquires New Position in Zoetis Inc. (NYSE:ZTS)

Baer Investment Advisory LLC acquired a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,952 shares of the company's stock, valued at approximately $2,097,000. Zoetis accounts for 3.8% of Baer Investment Advisory LLC's portfolio, making the stock its 14th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Navigoe LLC acquired a new position in Zoetis during the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC increased its position in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis during the 4th quarter valued at $44,000. Sound Income Strategies LLC boosted its position in Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC boosted its position in Zoetis by 614.6% during the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after acquiring an additional 252 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Price Performance

Zoetis stock traded down $1.35 during mid-day trading on Thursday, hitting $150.19. The company's stock had a trading volume of 1,249,056 shares, compared to its average volume of 2,600,073. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $66.86 billion, a P/E ratio of 26.91, a P/E/G ratio of 2.53 and a beta of 0.91. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The stock's fifty day moving average price is $161.24 and its two-hundred day moving average price is $161.62.

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

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Insiders Place Their Bets

In other 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 transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

ZTS has been the subject of several research analyst reports. Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $180.00 to $155.00 in a report on Thursday. Piper Sandler increased their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. UBS Group lowered their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.63.

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.