Sage Rhino Capital LLC Grows Stake in Zoetis Inc. (NYSE:ZTS)

Sage Rhino Capital LLC raised its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 117.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,014 shares of the company's stock after purchasing an additional 3,791 shares during the quarter. Sage Rhino Capital LLC's holdings in Zoetis were worth $1,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. grew its stake in 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 in the last quarter. Navigoe LLC acquired a new position in Zoetis in the fourth quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its stake in Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis in the fourth quarter valued at approximately $44,000. Finally, Sound Income Strategies LLC boosted its stake in Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Up 0.3%

Shares of ZTS opened at $158.81 on Friday. The company has a 50-day simple moving average of $161.37 and a 200-day simple moving average of $161.93. The firm has a market capitalization of $70.70 billion, a P/E ratio of 28.51, a P/E/G ratio of 2.62 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 earnings per share. On average, equities research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm 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 of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.26%. Zoetis's dividend payout ratio is currently 35.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ZTS shares. UBS Group dropped their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Piper Sandler lifted their price objective on shares of 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 cut shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Two research 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.com, Zoetis presently has a consensus rating of "Buy" and a consensus target price of $212.13.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction 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 sale, the executive vice president directly owned 15,129 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.

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