Concurrent Investment Advisors LLC Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

Concurrent Investment Advisors LLC increased its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,806 shares of the company's stock after purchasing an additional 3,041 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Zoetis were worth $2,932,000 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. VELA Investment Management LLC grew its holdings in Zoetis by 42.7% in the first quarter. VELA Investment Management LLC now owns 12,777 shares of the company's stock valued at $2,104,000 after purchasing an additional 3,823 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Zoetis in the 1st quarter valued at about $88,000. Capital Investment Advisory Services LLC increased its holdings in Zoetis by 37.4% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,501 shares of the company's stock valued at $412,000 after acquiring an additional 681 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Zoetis by 152.9% during the 1st quarter. Impax Asset Management Group plc now owns 254,407 shares of the company's stock valued at $41,729,000 after acquiring an additional 153,792 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in Zoetis by 10.6% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,345 shares of the company's stock worth $386,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of 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 lifted their price objective on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $212.13.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Zoetis Trading Down 1.4%

Shares of ZTS traded down $2.20 during trading hours on Monday, hitting $156.98. The stock had a trading volume of 2,822,512 shares, compared to its average volume of 2,573,770. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The firm has a market cap of $69.89 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.64 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. The company's fifty day simple moving average is $161.16 and its 200 day simple moving average is $162.08.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Equities research analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.27%. Zoetis's dividend payout ratio is currently 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.