Bearing Point Capital LLC Purchases 12,849 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Bearing Point Capital LLC significantly increased its stake in Zoetis Inc. by 898.5%, owning 14,279 shares valued at approximately $2.35 million as of the latest reporting period.
• Zoetis reported earnings of $1.48 per share, exceeding analysts' expectations of $1.40, alongside a revenue of $2.22 billion for the quarter.
• The company announced a $0.50 per share quarterly dividend, which results in an annual yield of 1.32%, with a payout ratio of 35.91%.

Bearing Point Capital LLC boosted its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 898.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,279 shares of the company's stock after purchasing an additional 12,849 shares during the quarter. Bearing Point Capital LLC's holdings in Zoetis were worth $2,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Navigoe LLC bought a new stake in Zoetis in the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC grew its holdings in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after acquiring an additional 120 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Zoetis in the 4th quarter worth about $44,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Zoetis by 141.4% in 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 last quarter. 92.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Zoetis Stock Performance

Shares of ZTS stock traded down $1.47 during trading on Monday, hitting $150.65. The company's stock had a trading volume of 2,261,077 shares, compared to its average volume of 2,984,698. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The company has a market cap of $67.07 billion, a PE ratio of 27.05, a P/E/G ratio of 2.52 and a beta of 0.91. The business has a fifty day moving average of $159.91 and a 200-day moving average of $160.96. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33.

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 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 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. As a group, research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

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

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.