MOKAN Wealth Management Inc. Purchases New Shares in Zoetis Inc. (NYSE:ZTS)

MOKAN Wealth Management Inc. acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,197 shares of the company's stock, valued at approximately $1,184,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Zoetis in the fourth quarter worth about $824,321,000. Wellington Management Group LLP grew its holdings in shares of Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares during the period. Sarasin & Partners LLP bought a new position in shares of Zoetis in the 1st quarter worth approximately $339,111,000. GAMMA Investing LLC lifted its stake in shares of Zoetis by 14,731.3% in the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after purchasing an additional 1,747,423 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Zoetis during the fourth quarter valued at approximately $196,651,000. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Zoetis Stock Up 0.3%

ZTS stock opened at $157.76 on Wednesday. The stock has a market capitalization of $70.23 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.61 and a beta of 0.94. 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 1-year low of $139.70 and a 1-year high of $200.33. The business has a fifty day moving average price of $159.89 and a 200-day moving average price of $163.06.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. Zoetis's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 EPS. Equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is currently 35.91%.

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction on Tuesday, June 3rd. The stock was 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 of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by 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.

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