Beverly Hills Private Wealth LLC Increases Position in Zoetis Inc. (NYSE:ZTS)

Beverly Hills Private Wealth LLC lifted its position in Zoetis Inc. (NYSE:ZTS) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,937 shares of the company’s stock after buying an additional 232 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Zoetis were worth $1,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Vanguard Group Inc. lifted its position in Zoetis by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock valued at $6,739,905,000 after purchasing an additional 120,158 shares during the period. Geode Capital Management LLC raised its position in Zoetis by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock worth $1,726,075,000 after acquiring an additional 190,137 shares during the period. Polen Capital Management LLC raised its position in Zoetis by 17.5% in the fourth quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock worth $1,219,237,000 after acquiring an additional 1,116,541 shares during the period. Wellington Management Group LLP raised its position in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares during the period. Finally, Northern Trust Corp raised its position in Zoetis by 13.3% in the fourth quarter. Northern Trust Corp now owns 6,426,394 shares of the company’s stock worth $1,047,052,000 after acquiring an additional 755,893 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $159.19 on Monday. 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 $70.87 billion, a P/E ratio of 28.58, a PEG ratio of 2.64 and a beta of 0.91. The firm has a fifty day simple moving average of $161.16 and a two-hundred day simple moving average of $162.08. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data 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 company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business posted $1.38 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders 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 yield of 1.26%. The ex-dividend date is Friday, July 18th. Zoetis’s dividend payout ratio is presently 35.91%.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZTS shares. Stifel Nicolaus cut shares of Zoetis from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, UBS Group cut their target price on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and an average price target of $212.13.

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.