Zoetis Inc. $ZTS Shares Bought by Boston Family Office LLC

Key Points

• Boston Family Office LLC increased its stake in Zoetis Inc. by 20.8%, holding a total of 33,263 shares worth approximately $5.48 million after buying an additional 5,735 shares in the process.
• A range of other institutional investors and hedge funds have recently adjusted their stakes in Zoetis, with 92.80% of the company's stock now owned by such entities.
• Zoetis declared a quarterly dividend of $0.50 per share, representing a 1.3% yield with an ex-dividend date of July 18th.

Boston Family Office LLC lifted its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,263 shares of the company's stock after purchasing an additional 5,735 shares during the period. Boston Family Office LLC's holdings in Zoetis were worth $5,477,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Portside Wealth Group LLC lifted its position in Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after acquiring an additional 6,672 shares during the last quarter. Tandem Investment Advisors Inc. lifted its position in Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after acquiring an additional 198,089 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after acquiring an additional 1,760 shares during the last quarter. Horizon Financial Services LLC purchased a new stake in Zoetis in the first quarter valued at $380,000. Finally, Sage Rhino Capital LLC lifted its position in Zoetis by 117.6% in the first quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after acquiring an additional 3,791 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the transaction, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $1.83 on Monday, reaching $152.28. The company's stock had a trading volume of 2,158,515 shares, compared to its average volume of 3,678,922. The stock's 50-day moving average is $154.69 and its two-hundred day moving average is $158.90. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04. The stock has a market capitalization of $67.49 billion, a P/E ratio of 26.21, a PEG ratio of 2.47 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business posted $1.56 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is 34.42%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ZTS shares. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Piper Sandler upped their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Finally, UBS Group reduced their target price 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Zoetis currently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

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.