Harvest Portfolios Group Inc. Increases Stake in Zoetis Inc. $ZTS

Key Points

• Harvest Portfolios Group Inc. increased its Zoetis stake by 4.4% in the fourth quarter, adding 17,497 shares and bringing its total to 416,270 shares worth about $52.4 million.
• Several other institutional investors also raised their positions, and overall 92.8% of Zoetis shares are held by hedge funds and other institutions.
• Zoetis insiders were buyers too: directors Frank A. Damelio and Paul Bisaro purchased shares in May, while analysts currently rate the stock “Hold” on average with a consensus target price of $134.75.

Harvest Portfolios Group Inc. raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 416,270 shares of the company's stock after buying an additional 17,497 shares during the period. Harvest Portfolios Group Inc. owned about 0.09% of Zoetis worth $52,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RFG Advisory LLC boosted its position in shares of Zoetis by 4.9% in the fourth quarter. RFG Advisory LLC now owns 1,708 shares of the company's stock worth $215,000 after purchasing an additional 80 shares during the period. YANKCOM Partnership boosted its position in shares of Zoetis by 3.5% in the fourth quarter. YANKCOM Partnership now owns 2,402 shares of the company's stock worth $302,000 after purchasing an additional 81 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Zoetis by 3.3% in the third quarter. Evergreen Capital Management LLC now owns 2,696 shares of the company's stock worth $394,000 after purchasing an additional 85 shares during the period. Beese Fulmer Investment Management Inc. boosted its position in shares of Zoetis by 2.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 3,672 shares of the company's stock worth $537,000 after purchasing an additional 85 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Zoetis by 4.7% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 1,904 shares of the company's stock worth $240,000 after purchasing an additional 86 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frank A. Damelio bought 6,650 shares of Zoetis stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $75.39 per share, with a total value of $501,343.50. Following the completion of the purchase, the director owned 21,458 shares in the company, valued at $1,617,718.62. The trade was a 44.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Bisaro bought 2,000 shares of Zoetis stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $75.88 per share, for a total transaction of $151,760.00. Following the purchase, the director owned 27,862 shares of the company's stock, valued at approximately $2,114,168.56. This trade represents a 7.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 11,650 shares of company stock valued at $886,384. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZTS shares. BTIG Research reiterated a "buy" rating and issued a $160.00 price target on shares of Zoetis in a research report on Thursday, February 26th. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price target on shares of Zoetis in a research report on Friday. Bank of America upped their price target on shares of Zoetis from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Weiss Ratings lowered shares of Zoetis from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 27th. Finally, UBS Group dropped their price target on shares of Zoetis from $130.00 to $99.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zoetis has a consensus rating of "Hold" and an average target price of $134.75.

Zoetis Price Performance

ZTS stock opened at $78.89 on Wednesday. Zoetis Inc. has a 52 week low of $72.38 and a 52 week high of $172.23. The company has a quick ratio of 1.91, a current ratio of 3.15 and a debt-to-equity ratio of 2.80. The company has a fifty day simple moving average of $110.54 and a two-hundred day simple moving average of $119.82. The firm has a market capitalization of $33.07 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.27 and a beta of 0.87.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.07). Zoetis had a net margin of 27.80% and a return on equity of 66.85%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the business earned $1.48 EPS. Zoetis's revenue for the quarter was up 2.9% compared to the same quarter last year. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. Analysts anticipate that Zoetis Inc. will post 6.89 earnings per share for the current fiscal year.

About Zoetis

Zoetis Inc NYSE: ZTS is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company's offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

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