South Plains Financial Inc. Acquires Shares of 5,514 Zoetis Inc. (NYSE:ZTS)

South Plains Financial Inc. acquired a new position in Zoetis Inc. (NYSE:ZTS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,514 shares of the company's stock, valued at approximately $898,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Capital Management Group LLC lifted its position in Zoetis by 0.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company's stock valued at $20,489,000 after acquiring an additional 883 shares during the period. Principal Financial Group Inc. boosted its position in shares of Zoetis by 17.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company's stock worth $464,497,000 after purchasing an additional 351,372 shares in the last quarter. Diamant Asset Management Inc. grew its stake in shares of Zoetis by 2.4% in the 3rd quarter. Diamant Asset Management Inc. now owns 4,465 shares of the company's stock worth $872,000 after buying an additional 105 shares during the last quarter. World Investment Advisors LLC increased its position in Zoetis by 29.1% during the 3rd quarter. World Investment Advisors LLC now owns 34,236 shares of the company's stock valued at $6,689,000 after buying an additional 7,709 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in Zoetis by 801.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 18,606 shares of the company's stock valued at $3,635,000 after buying an additional 16,541 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Down 5.0 %

NYSE:ZTS traded down $7.84 during mid-day trading on Tuesday, hitting $150.22. 2,145,106 shares of the stock traded hands, compared to its average volume of 2,469,581. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm's 50 day moving average is $158.17 and its two-hundred day moving average is $166.80. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.33%. Zoetis's payout ratio is 36.56%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus cut their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley decreased their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Piper Sandler raised their price target on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $214.40.

Insiders Place Their Bets

In related news, Director Willie M. Reed sold 1,210 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the transaction, the executive vice president now owns 15,781 shares in the company, valued at approximately $2,682,770. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock worth $312,254 in the last quarter. 0.16% of the stock is owned by company insiders.

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.