Harmony Asset Management LLC Purchases New Position in Zoetis Inc. (NYSE:ZTS)

Harmony Asset Management LLC bought a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,056 shares of the company's stock, valued at approximately $1,656,000.

Other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group grew its holdings in shares of Zoetis by 2.6% in the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company's stock valued at $40,036,000 after acquiring an additional 6,169 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Zoetis by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock valued at $6,739,905,000 after acquiring an additional 120,158 shares in the last quarter. Portside Wealth Group LLC grew its holdings in shares of Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after acquiring an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in shares of Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after acquiring an additional 198,089 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new position in Zoetis during the first quarter valued at $380,000. 92.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ZTS shares. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Piper Sandler raised their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. 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 research report on Wednesday, May 7th. Two equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $212.13.

Zoetis Price Performance

NYSE:ZTS traded down $3.89 during trading hours on Friday, hitting $154.91. 2,267,443 shares of the company's stock traded hands, compared to its average volume of 2,595,048. The firm has a market cap of $68.97 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.57 and a beta of 0.91. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The business's fifty day simple moving average is $161.32 and its two-hundred day simple moving average is $161.84. 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 (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company's revenue was up 1.4% compared to the same quarter last year. On average, research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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.