IMA Wealth Inc. Takes Position in Zoetis Inc. (NYSE:ZTS)

IMA Wealth Inc. purchased a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,348 shares of the company's stock, valued at approximately $2,437,000.

Several other hedge funds have also recently modified their holdings of ZTS. Vaughan Nelson Investment Management L.P. bought a new position in shares of Zoetis during the 3rd quarter worth approximately $176,219,000. Alphinity Investment Management Pty Ltd raised its stake in shares of Zoetis by 214.7% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 824,148 shares of the company's stock worth $162,662,000 after acquiring an additional 562,259 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Zoetis by 27,671.0% during the 4th quarter. International Assets Investment Management LLC now owns 479,328 shares of the company's stock worth $94,605,000 after acquiring an additional 477,602 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Zoetis by 34.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,562,044 shares of the company's stock worth $271,764,000 after acquiring an additional 403,164 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of Zoetis by 53.9% during the 3rd quarter. Natixis Advisors L.P. now owns 941,219 shares of the company's stock worth $163,753,000 after acquiring an additional 329,543 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ZTS shares. Piper Sandler reiterated an "overweight" rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Barclays cut their price target on shares of Zoetis from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday. StockNews.com lowered shares of Zoetis from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on shares of Zoetis from $190.00 to $226.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price objective on shares of Zoetis from $215.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday, April 2nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $218.00.

Insider Activity

In other news, EVP Roxanne Lagano sold 363 shares of Zoetis stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the sale, the executive vice president now owns 20,417 shares in the company, valued at $4,037,257.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 2,209 shares of company stock worth $371,293 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Zoetis Stock Performance

NYSE ZTS traded up $5.06 during mid-day trading on Friday, reaching $158.42. 5,236,463 shares of the stock were exchanged, compared to its average volume of 4,019,007. The business's 50 day moving average is $171.79 and its 200-day moving average is $179.31. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a market capitalization of $72.45 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.34 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same period last year, the company posted $1.15 earnings per share. The business's quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Zoetis Inc. will post 5.79 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.09%. Zoetis's dividend payout ratio (DPR) is 34.12%.

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.