Neo Ivy Capital Management Purchases New Stake in Zoetis Inc. (NYSE:ZTS)

Key Points

• Neo Ivy Capital Management acquired a new stake in Zoetis Inc., purchasing 4,270 shares valued at approximately $703,000 during the first quarter.
• Analysts have mixed ratings on Zoetis, with four maintaining a hold rating, six offering a buy rating, and one providing a strong buy rating, while the average price target is $204.63.
• Zoetis recently announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 1.32%, to be paid on September 3rd.

Neo Ivy Capital Management bought a new stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,270 shares of the company's stock, valued at approximately $703,000.

Several other large investors have also recently bought and sold shares of ZTS. Navigoe LLC acquired a new position in Zoetis during the 4th quarter valued at $30,000. Cornerstone Planning Group LLC raised its stake in Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis during the 4th quarter valued at $44,000. Finally, Sound Income Strategies LLC raised its stake in shares of Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after buying an additional 164 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZTS. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. 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 research note on Wednesday, May 7th. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Piper Sandler upped their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.63.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of Zoetis 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 completion of the sale, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Zoetis Stock Down 1.0%

Shares of NYSE:ZTS traded down $1.47 during midday trading on Monday, hitting $150.65. The stock had a trading volume of 2,261,077 shares, compared to its average volume of 3,046,324. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. 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 business's 50-day simple moving average is $159.91 and its 200-day simple moving average is $160.96. The company has a market cap of $67.07 billion, a P/E ratio of 27.05, a PEG ratio of 2.52 and a beta of 0.91.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm posted $1.38 EPS. The company's quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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

Zoetis 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.