HB Wealth Management LLC Has $5.32 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• HB Wealth Management LLC increased its stake in Zoetis Inc. by 138.0% during the first quarter, now holding 32,287 shares valued at approximately $5.3 million.
• Various hedge funds have also adjusted their holdings in Zoetis, with Bfsg LLC significantly increasing its stake by 614.6% in the same period.
• Zoetis recently announced a $0.50 quarterly dividend, yielding 1.32% annually, as well as positive earnings results that exceeded analyst expectations.

HB Wealth Management LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 138.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,287 shares of the company's stock after acquiring an additional 18,722 shares during the period. HB Wealth Management LLC's holdings in Zoetis were worth $5,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ZTS. Schroder Investment Management Group raised its position in Zoetis by 2.6% in the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company's stock worth $40,036,000 after purchasing an additional 6,169 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock valued at $5,550,000 after purchasing an additional 6,672 shares during the last quarter. Tandem Investment Advisors Inc. increased its holdings in shares of Zoetis by 100.3% during the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after buying an additional 198,089 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Zoetis by 31.2% during the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock worth $1,217,000 after buying an additional 1,760 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new stake in shares of Zoetis during the first quarter worth approximately $380,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred on 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 owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZTS. UBS Group dropped their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Piper Sandler boosted their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.63.

Zoetis Stock Performance

Zoetis stock traded down $1.47 during trading hours on Monday, hitting $150.65. The company had a trading volume of 2,261,077 shares, compared to its average volume of 3,046,324. The firm has a market cap of $67.07 billion, a PE ratio of 27.05, a PEG ratio of 2.52 and a beta of 0.91. 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 Inc. has a one year low of $139.70 and a one year high of $200.33. The firm has a 50-day moving average of $159.91 and a 200 day moving average of $160.96.

Zoetis (NYSE:ZTS - Get Free Report) last released 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 business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company posted $1.38 earnings per share. Zoetis's revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. Zoetis's payout ratio is presently 35.91%.

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.