Edgestream Partners L.P. Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

Edgestream Partners L.P. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 466.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,619 shares of the company's stock after purchasing an additional 45,799 shares during the quarter. Edgestream Partners L.P.'s holdings in Zoetis were worth $9,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZTS. Leelyn Smith LLC lifted its holdings in shares of Zoetis by 5.1% in the 1st quarter. Leelyn Smith LLC now owns 23,569 shares of the company's stock worth $3,881,000 after acquiring an additional 1,136 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in Zoetis by 71.7% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 32,849 shares of the company's stock worth $5,409,000 after purchasing an additional 13,718 shares in the last quarter. Florida Financial Advisors LLC lifted its stake in Zoetis by 57.6% during the first quarter. Florida Financial Advisors LLC now owns 2,464 shares of the company's stock worth $406,000 after purchasing an additional 901 shares in the last quarter. BHK Investment Advisors LLC purchased a new position in shares of Zoetis during the first quarter worth $568,000. Finally, Key Financial Inc grew its stake in shares of Zoetis by 12.0% in the first quarter. Key Financial Inc now owns 1,070 shares of the company's stock valued at $176,000 after buying an additional 115 shares in the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company's 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 of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Zoetis Stock Down 1.0%

NYSE:ZTS traded down $1.54 during mid-day trading on Thursday, hitting $150.00. The stock had a trading volume of 3,575,244 shares, compared to its average volume of 2,610,616. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The stock has a 50-day simple moving average of $161.00 and a two-hundred day simple moving average of $161.54. 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 capitalization of $66.78 billion, a PE ratio of 26.93, a PEG ratio of 2.51 and a beta of 0.91.

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

Zoetis Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is presently 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.