Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• Empirical Financial Services LLC significantly increased its holdings in Zoetis Inc. by 244.8% in Q1, acquiring an additional 4,064 shares to total 5,724 shares valued at approximately $942,000.
• Several institutional investors, including Natixis Advisors LLC and Lyell Wealth Management LP, also expanded their stakes in Zoetis during the same period, reflecting a broader institutional interest in the company.
• Zoetis's recent earnings report showed a 1.4% year-over-year revenue increase to $2.22 billion, with an earnings per share (EPS) of $1.48, exceeding analysts' expectations.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 244.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,724 shares of the company's stock after purchasing an additional 4,064 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Zoetis were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Navigoe LLC acquired a new position in Zoetis during the 4th quarter worth approximately $30,000. Cornerstone Planning Group LLC grew its holdings in shares of Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Zoetis by 141.4% in the first 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 holdings in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after acquiring an additional 252 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZTS. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group decreased their price objective 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. Finally, Piper Sandler boosted their target price on shares of 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.63.

Zoetis Trading Up 3.3%

Shares of NYSE:ZTS traded up $4.93 during trading on Monday, reaching $152.31. The company's stock had a trading volume of 6,269,265 shares, compared to its average volume of 3,305,504. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The stock has a market capitalization of $67.81 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. The firm's 50 day simple moving average is $158.51 and its two-hundred day simple moving average is $160.35.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 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 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 quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. On average, research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company 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 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Insiders Place Their Bets

In other Zoetis 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 value of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

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.