Bridges Investment Management Inc. Grows Position in Zoetis Inc. (NYSE:ZTS)

Bridges Investment Management Inc. increased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,553 shares of the company's stock after acquiring an additional 3,723 shares during the period. Bridges Investment Management Inc. owned approximately 0.06% of Zoetis worth $44,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its holdings in shares of Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC acquired a new stake in Zoetis in the fourth quarter valued at approximately $30,000. Cornerstone Planning Group LLC lifted its position in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis during the fourth quarter valued at $44,000. Finally, Sound Income Strategies LLC increased its stake in shares of Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the 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 completion of the sale, the executive vice president directly owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $3.89 during trading on Friday, reaching $154.91. The stock had a trading volume of 2,267,443 shares, compared to its average volume of 2,588,962. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The business's 50-day moving average price is $161.37 and its 200 day moving average price is $161.93. 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 $68.97 billion, a PE ratio of 27.81, a P/E/G ratio of 2.62 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 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the business posted $1.38 EPS. Zoetis's revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.29%. 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 brokerages recently issued reports on ZTS. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $212.13.

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.