Precedent Wealth Partners LLC Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Precedent Wealth Partners LLC raised its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 33.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,648 shares of the company's stock after purchasing an additional 1,673 shares during the period. Precedent Wealth Partners LLC's holdings in Zoetis were worth $1,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Navigoe LLC acquired a new position in Zoetis during the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Zoetis during the fourth quarter worth $44,000. Sound Income Strategies LLC grew its holdings in shares of Zoetis by 141.4% during the first 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, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Zoetis in the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

Shares of NYSE:ZTS traded up $0.03 during trading on Monday, reaching $164.36. The stock had a trading volume of 2,472,872 shares, compared to its average volume of 2,552,294. The business has a fifty day moving average price of $158.67 and a 200-day moving average price of $163.83. The stock has a market cap of $73.18 billion, a PE ratio of 30.05, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

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 the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Analysts Set New Price Targets

Several analysts have weighed in on ZTS shares. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. UBS Group cut 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. Piper Sandler boosted their price objective on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Stifel Nicolaus dropped their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $212.75.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president now owns 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company's stock.

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.