Fairtree Asset Management Pty Ltd Invests $365,000 in Zoetis Inc. (NYSE:ZTS)

Fairtree Asset Management Pty Ltd acquired a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,238 shares of the company's stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mission Wealth Management LP raised its holdings in shares of Zoetis by 2.0% in the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company's stock valued at $479,000 after purchasing an additional 59 shares during the last quarter. VeraBank N.A. raised its holdings in shares of Zoetis by 4.1% in the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company's stock valued at $254,000 after purchasing an additional 62 shares during the last quarter. HUB Investment Partners LLC raised its holdings in shares of Zoetis by 4.7% in the fourth quarter. HUB Investment Partners LLC now owns 1,373 shares of the company's stock valued at $224,000 after purchasing an additional 62 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of Zoetis by 18.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after purchasing an additional 64 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Zoetis by 6.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company's stock valued at $170,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the transaction, the executive vice president now directly owns 15,781 shares of the company's stock, valued at $2,682,770. This trade represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Willie M. Reed sold 1,210 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. The trade was a 9.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Zoetis Stock Performance

ZTS traded up $1.57 on Friday, hitting $168.71. The company's stock had a trading volume of 5,467,815 shares, compared to its average volume of 2,533,285. The company's 50 day simple moving average is $156.65 and its 200-day simple moving average is $164.63. The firm has a market cap of $75.11 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Zoetis's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. Analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Analysts Set New Price Targets

ZTS has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Morgan Stanley decreased their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Barclays raised their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus decreased their price objective on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler raised their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $212.75.

About Zoetis

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.