Global Assets Advisory LLC Makes New $8.83 Million Investment in Zoetis Inc. (NYSE:ZTS)

Global Assets Advisory LLC bought a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the 1st quarter, HoldingsChannel reports. The fund bought 52,191 shares of the company’s stock, valued at approximately $8,831,000.

Other large investors have also recently made changes to their positions in the company. Hohimer Wealth Management LLC boosted its stake in Zoetis by 1.2% in the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after acquiring an additional 52 shares during the last quarter. Forum Financial Management LP lifted its stake in Zoetis by 0.8% in the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock valued at $1,458,000 after purchasing an additional 56 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Zoetis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after purchasing an additional 56 shares during the period. Prossimo Advisors LLC increased its holdings in Zoetis by 1.7% in the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after acquiring an additional 57 shares during the last quarter. Finally, River Street Advisors LLC raised its position in shares of Zoetis by 3.4% in the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after purchasing an additional 58 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ZTS shares. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus decreased their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. HSBC lowered their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $211.75.

Zoetis Price Performance

ZTS traded up $0.75 during midday trading on Monday, hitting $171.84. The stock had a trading volume of 1,885,856 shares, compared to its average volume of 2,963,195. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The business has a fifty day moving average of $166.56 and a 200 day moving average of $179.18. The company has a market cap of $78.41 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 EPS. As a group, equities analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

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.