Zoetis Inc. (NYSE:ZTS) Shares Bought by First Foundation Advisors

Key Points

• First Foundation Advisors increased its holdings in Zoetis Inc. by 9.5% during the first quarter, now owning 23,316 shares valued at approximately $3.84 million.
• Zoetis reported earnings per share of $1.48 for the latest quarter, surpassing analysts' expectations, with revenues rising 1.4% year-over-year to $2.22 billion.
• The company announced a quarterly dividend of $0.50 per share, equating to an annualized dividend yield of 1.33%.

First Foundation Advisors lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 23,316 shares of the company's stock after acquiring an additional 2,015 shares during the period. First Foundation Advisors' holdings in Zoetis were worth $3,839,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new position in shares of Zoetis in the first quarter valued at about $10,160,000. Geneos Wealth Management Inc. boosted its position in Zoetis by 88.9% in the first quarter. Geneos Wealth Management Inc. now owns 27,778 shares of the company's stock valued at $4,574,000 after buying an additional 13,073 shares during the last quarter. Renaissance Investment Group LLC increased its holdings in Zoetis by 1.7% in the 1st quarter. Renaissance Investment Group LLC now owns 53,168 shares of the company's stock worth $8,754,000 after buying an additional 886 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Zoetis during the 1st quarter worth approximately $164,000. Finally, TCTC Holdings LLC lifted its stake in Zoetis by 6.5% during the 1st quarter. TCTC Holdings LLC now owns 42,672 shares of the company's stock valued at $7,026,000 after acquiring an additional 2,616 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

Zoetis stock opened at $150.65 on Tuesday. The company's fifty day moving average price is $159.64 and its 200 day moving average price is $160.87. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The stock has a market capitalization of $67.07 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.52 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74.

Zoetis (NYSE:ZTS - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $1.38 EPS. Zoetis's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. 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. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.63.

Insider Buying and Selling

In other Zoetis 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 value of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.

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