Zoetis Inc. (NYSE:ZTS) Shares Acquired by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 100.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 395,626 shares of the company's stock after purchasing an additional 198,089 shares during the quarter. Zoetis accounts for about 2.3% of Tandem Investment Advisors Inc.'s investment portfolio, making the stock its 23rd largest holding. Tandem Investment Advisors Inc. owned approximately 0.09% of Zoetis worth $65,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZTS. Resonant Capital Advisors LLC lifted its holdings in shares of Zoetis by 7.3% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,063 shares of the company's stock valued at $340,000 after acquiring an additional 141 shares in the last quarter. Novem Group lifted its stake in shares of Zoetis by 30.8% during the first quarter. Novem Group now owns 6,406 shares of the company's stock worth $1,055,000 after purchasing an additional 1,507 shares in the last quarter. Pinnacle Financial Partners Inc boosted its position in shares of Zoetis by 0.5% in the first quarter. Pinnacle Financial Partners Inc now owns 46,386 shares of the company's stock worth $7,637,000 after buying an additional 250 shares during the period. Horizon Financial Services LLC acquired a new stake in shares of Zoetis in the first quarter valued at about $380,000. Finally, Arbor Capital Management Inc. ADV raised its holdings in shares of Zoetis by 5.7% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,137 shares of the company's stock valued at $1,002,000 after buying an additional 331 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZTS. 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 note on Wednesday, May 7th. Piper Sandler lifted their price target 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 price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $212.13.

Zoetis Price Performance

Shares of NYSE ZTS opened at $159.09 on Thursday. 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 firm has a market capitalization of $70.83 billion, a PE ratio of 28.56, a P/E/G ratio of 2.64 and a beta of 0.91. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The business's fifty day moving average price is $160.92 and its two-hundred day moving average price is $162.32.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data 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 net margin of 27.12% and a return on equity of 55.48%. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the company earned $1.38 EPS. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts expect that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is currently 35.91%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction 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 approximately $2,571,930. This trade 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 accessible through the SEC website. Company insiders own 0.18% of the company's stock.

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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