1,665 Shares in Zoetis Inc. (NYSE:ZTS) Purchased by Rainey & Randall Wealth Advisors Inc.

Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,665 shares of the company's stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in Zoetis in the first quarter worth $58,000. Stephens Inc. AR increased its position in Zoetis by 87.3% in the first quarter. Stephens Inc. AR now owns 110,562 shares of the company's stock worth $18,204,000 after buying an additional 51,537 shares during the period. Platform Technology Partners increased its position in Zoetis by 124.8% in the first quarter. Platform Technology Partners now owns 5,313 shares of the company's stock worth $875,000 after buying an additional 2,950 shares during the period. BankPlus Trust Department increased its position in Zoetis by 8.0% in the first quarter. BankPlus Trust Department now owns 3,414 shares of the company's stock worth $562,000 after buying an additional 253 shares during the period. Finally, Arizona State Retirement System increased its position in Zoetis by 3.7% in the first quarter. Arizona State Retirement System now owns 135,232 shares of the company's stock worth $22,266,000 after buying an additional 4,794 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZTS has been the topic of several analyst reports. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Piper Sandler raised their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, UBS Group lowered their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Zoetis presently has a consensus rating of "Buy" and a consensus target price of $212.13.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction dated Tuesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Zoetis Price Performance

ZTS stock traded down $3.89 during trading hours on Friday, hitting $154.91. 2,267,443 shares of the stock traded hands, compared to its average volume of 2,595,048. The stock has a 50-day simple moving average of $161.32 and a 200 day simple moving average of $161.84. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a market cap of $68.97 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.57 and a beta of 0.91. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share 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 analysts' expectations of $2.20 billion. During the same quarter last year, the business posted $1.38 earnings per share. The company's quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.29%. Zoetis's dividend payout ratio is currently 35.91%.

Zoetis Company 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.