Parr Mcknight Wealth Management Group LLC Makes New Investment in Zoetis Inc. (NYSE:ZTS)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,181 shares of the company's stock, valued at approximately $2,636,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 140 shares during the period. Rakuten Securities Inc. raised its position in shares of Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 166 shares in the last quarter. Navigoe LLC bought a new position in shares of Zoetis in the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Zoetis in the 4th quarter valued at about $44,000. Finally, Asset Planning Inc bought a new stake in shares of Zoetis during the 4th quarter valued at about $58,000. 92.80% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the transaction, the executive vice president now owns 15,781 shares in the company, valued at approximately $2,682,770. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZTS. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Morgan Stanley dropped their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Barclays raised their price objective on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Piper Sandler upped their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Stifel Nicolaus reduced their price target on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $212.75.

Zoetis Stock Up 2.2%

Shares of NYSE:ZTS traded up $3.65 on Tuesday, hitting $166.23. 2,322,895 shares of the company traded hands, compared to its average volume of 2,527,839. The stock has a 50 day simple moving average of $156.47 and a 200-day simple moving average of $164.68. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The company has a market cap of $74.01 billion, a PE ratio of 30.39, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the company earned $1.38 EPS. The company's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. Zoetis's dividend payout ratio (DPR) is presently 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.