Zoetis Inc. (NYSE:ZTS) Shares Acquired by Palisade Capital Management LP

Palisade Capital Management LP increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,771 shares of the company's stock after buying an additional 8,518 shares during the period. Palisade Capital Management LP's holdings in Zoetis were worth $8,689,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ZTS. Mission Wealth Management LP increased its position in shares of Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company's stock worth $479,000 after acquiring an additional 59 shares during the period. HUB Investment Partners LLC grew its stake in Zoetis by 4.7% during the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company's stock worth $224,000 after purchasing an additional 62 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in Zoetis by 18.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock worth $68,000 after purchasing an additional 64 shares during the period. Lindbrook Capital LLC raised its position in Zoetis by 1.8% in the 4th quarter. Lindbrook Capital LLC now owns 3,650 shares of the company's stock valued at $595,000 after purchasing an additional 65 shares in the last quarter. Finally, Ironwood Investment Management LLC raised its position in Zoetis by 0.8% in the 4th quarter. Ironwood Investment Management LLC now owns 8,354 shares of the company's stock valued at $1,361,000 after purchasing an additional 68 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ZTS shares. UBS Group cut their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler increased their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $212.13.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business'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 value of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Zoetis Stock Up 0.1%

Shares of NYSE:ZTS traded up $0.11 during trading on Friday, hitting $159.19. 1,375,164 shares of the company were exchanged, compared to its average volume of 2,569,728. The firm's 50 day moving average price is $161.05 and its 200-day moving average price is $162.20. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04. The stock has a market capitalization of $70.87 billion, a P/E ratio of 28.58, a PEG ratio of 2.64 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. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the company earned $1.38 earnings per share. Zoetis's quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given 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 dividend yield of 1.26%. Zoetis's dividend payout ratio (DPR) is presently 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.