MQS Management LLC Takes Position in Zoetis Inc. (NYSE:ZTS)

MQS Management LLC purchased a new position in Zoetis Inc. (NYSE:ZTS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,566 shares of the company's stock, valued at approximately $422,000.

A number of other hedge funds have also recently modified their holdings of the company. Navigoe LLC bought a new position in Zoetis during the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC increased its stake in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis during the fourth quarter valued at approximately $44,000. Sound Income Strategies LLC lifted its stake in Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC lifted its stake in Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group decreased 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. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price target for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Piper Sandler raised their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $212.13.

Zoetis Stock Up 0.5%

Shares of ZTS stock traded up $0.72 during trading hours on Monday, hitting $155.68. 1,986,473 shares of the company's stock traded hands, compared to its average volume of 3,011,381. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The stock's fifty day simple moving average is $161.32 and its two-hundred day simple moving average is $161.82. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The stock has a market cap of $69.31 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.57 and a beta of 0.91.

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

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

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.