Formidable Asset Management LLC Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Formidable Asset Management LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,921 shares of the company's stock, valued at approximately $316,000.

Several other large investors also recently made changes to their positions in ZTS. Nwam LLC boosted its holdings in Zoetis by 3.2% during the first quarter. Nwam LLC now owns 4,633 shares of the company's stock worth $763,000 after buying an additional 142 shares during the last quarter. Diversify Advisory Services LLC raised its position in Zoetis by 24.7% in the 1st quarter. Diversify Advisory Services LLC now owns 16,266 shares of the company's stock valued at $2,528,000 after buying an additional 3,219 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Zoetis by 33.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,671,742 shares of the company's stock valued at $439,851,000 after buying an additional 670,459 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after buying an additional 120 shares during the last quarter. Finally, Burling Wealth Partners LLC increased its position in shares of Zoetis by 76.6% during the 1st quarter. Burling Wealth Partners LLC now owns 22,220 shares of the company's stock worth $3,659,000 after purchasing an additional 9,639 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Analysts Set New Price Targets

ZTS has been the subject of a number of recent analyst reports. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday. UBS Group lowered their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Leerink Partners cut Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $180.00 to $155.00 in a report on Thursday. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Piper Sandler upped their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $204.63.

Insider Activity

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 value of $110,840.00. Following the sale, the executive vice president owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Zoetis Stock Performance

NYSE:ZTS traded down $1.29 during mid-day trading on Monday, hitting $147.31. The company's stock had a trading volume of 2,996,578 shares, compared to its average volume of 2,624,290. The business's fifty day moving average is $160.77 and its two-hundred day moving average is $161.42. The stock has a market cap of $65.59 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.46 and a beta of 0.91. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating 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 company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the company posted $1.38 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. Analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company 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 of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. Zoetis's dividend payout ratio (DPR) is 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.