Wealthfront Advisers LLC Grows Position in Zoetis Inc. (NYSE:ZTS)

Wealthfront Advisers LLC increased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 24.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,213 shares of the company's stock after buying an additional 4,790 shares during the quarter. Wealthfront Advisers LLC's holdings in Zoetis were worth $3,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Navigoe LLC acquired a new position in shares of Zoetis during the fourth quarter worth $30,000. Cornerstone Planning Group LLC grew its position in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis during the fourth quarter valued at $44,000. Sound Income Strategies LLC grew its holdings in Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC raised 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 purchasing an additional 252 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

Zoetis Trading Down 1.0%

NYSE:ZTS opened at $150.00 on Friday. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $161.00 and a 200-day simple moving average of $161.54. The company has a market capitalization of $66.78 billion, a P/E ratio of 26.93, a PEG ratio of 2.51 and a beta of 0.91.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly 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 firm 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%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 earnings per share. On average, equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. 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 Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and lowered their target price for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $180.00 to $155.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.63.

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.

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