Flagship Harbor Advisors LLC Acquires 1,760 Shares of Zoetis Inc. (NYSE:ZTS)

Flagship Harbor Advisors LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 31.2% during the first quarter, according to the company in 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 period. Flagship Harbor Advisors LLC's holdings in Zoetis were worth $1,217,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ZTS. Vantage Investment Partners LLC bought a new stake in Zoetis in the 1st quarter valued at $12,597,000. Harvey Investment Co. LLC boosted its position in shares of Zoetis by 72.2% during the 1st quarter. Harvey Investment Co. LLC now owns 32,508 shares of the company's stock valued at $5,352,000 after acquiring an additional 13,630 shares in the last quarter. Childress Capital Advisors LLC increased its stake in Zoetis by 64.5% in the first quarter. Childress Capital Advisors LLC now owns 2,630 shares of the company's stock valued at $433,000 after acquiring an additional 1,031 shares during the period. Intact Investment Management Inc. increased its stake in Zoetis by 475.0% in the first quarter. Intact Investment Management Inc. now owns 2,300 shares of the company's stock valued at $379,000 after acquiring an additional 1,900 shares during the period. Finally, Garde Capital Inc. acquired a new position in Zoetis in the first quarter worth about $49,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

ZTS stock traded up $0.38 during midday trading on Friday, reaching $156.17. 2,985,947 shares of the company's stock traded hands, compared to its average volume of 2,573,010. The company has a 50-day simple moving average of $160.25 and a two-hundred day simple moving average of $162.87. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a market cap of $69.53 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.61 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results 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. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $1.38 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business 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. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their price objective on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, UBS Group cut their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Zoetis has a consensus rating of "Buy" and a consensus price target of $212.13.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company'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 now directly owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.