Flagship Harbor Advisors LLC Grows Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Flagship Harbor Advisors LLC lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 31.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,394 shares of the company's stock after purchasing an additional 1,760 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Zoetis were worth $1,217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZTS. Schroder Investment Management Group increased its position in shares of Zoetis by 2.6% during the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company's stock worth $40,036,000 after buying an additional 6,169 shares during the period. Vanguard Group Inc. grew its holdings in Zoetis by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock worth $6,739,905,000 after buying an additional 120,158 shares in the last quarter. Portside Wealth Group LLC increased its stake in Zoetis by 24.7% in the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after buying an additional 6,672 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Zoetis by 72.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 93,114 shares of the company's stock worth $15,171,000 after purchasing an additional 39,114 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Zoetis during the 4th quarter worth approximately $37,298,000. Institutional investors own 92.80% of the company's stock.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company's stock.

Zoetis Stock Performance

Shares of ZTS stock traded up $0.42 during trading hours on Tuesday, hitting $157.76. The company's stock had a trading volume of 4,544,763 shares, compared to its average volume of 2,561,621. The company has a 50 day moving average of $159.72 and a 200 day moving average of $163.10. The stock has a market cap of $70.23 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.61 and a beta of 0.94. 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.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results 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. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is currently 35.91%.

Analyst Ratings Changes

Several analysts have issued reports on ZTS shares. Piper Sandler increased their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and cut their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Finally, UBS Group decreased their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Zoetis currently has an average rating of "Buy" and a consensus price target of $212.13.

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.