Parr Mcknight Wealth Management Group LLC Invests $2.64 Million in Zoetis Inc. (NYSE:ZTS)

Parr Mcknight Wealth Management Group LLC bought a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,181 shares of the company's stock, valued at approximately $2,636,000.

A number of other hedge funds have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its holdings in Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Zoetis in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in Zoetis during the fourth quarter valued at approximately $44,000. Finally, Asset Planning Inc purchased a new position in Zoetis during the 4th quarter valued at approximately $58,000. 92.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Stifel Nicolaus lowered their price target on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. UBS Group lowered their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler boosted their target price on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has a consensus rating of "Buy" and a consensus target price of $212.75.

Insider Buying and Selling

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

Zoetis Trading Down 0.6%

Zoetis stock traded down $0.94 during mid-day trading on Wednesday, hitting $165.32. The company's stock had a trading volume of 655,302 shares, compared to its average volume of 3,026,855. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The company has a 50 day moving average of $156.53 and a 200-day moving average of $164.69. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The stock has a market cap of $73.60 billion, a PE ratio of 30.24, a P/E/G ratio of 2.78 and a beta of 0.94.

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 analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Zoetis's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, research analysts anticipate 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 issued a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Zoetis's payout ratio is currently 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.