VELA Investment Management LLC Buys 3,823 Shares of Zoetis Inc. (NYSE:ZTS)

VELA Investment Management LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 42.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,777 shares of the company's stock after acquiring an additional 3,823 shares during the period. VELA Investment Management LLC's holdings in Zoetis were worth $2,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. grew 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 valued at $28,000 after buying an additional 166 shares during the last quarter. Navigoe LLC bought a new stake in shares of Zoetis in the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Zoetis in the 4th quarter valued at about $44,000. Sound Income Strategies LLC grew its position 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 during the last quarter. Finally, Bfsg LLC grew its position in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after buying an additional 252 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Stock Down 1.4%

NYSE:ZTS traded down $2.25 on Monday, hitting $156.93. The stock had a trading volume of 1,683,496 shares, compared to its average volume of 2,569,511. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The business's fifty day moving average is $161.16 and its 200 day moving average is $162.08. The company has a market cap of $69.87 billion, a PE ratio of 28.17, a P/E/G ratio of 2.64 and a beta of 0.91.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Zoetis's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Zoetis Inc. will post 6.07 EPS 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of analyst reports. UBS Group reduced their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, Piper Sandler upped 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. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given 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.

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.