Burney Co. Buys 387 Shares of Zoetis Inc. (NYSE:ZTS)

Burney Co. lifted its stake in Zoetis Inc. (NYSE:ZTS) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,229 shares of the company’s stock after purchasing an additional 387 shares during the period. Burney Co.’s holdings in Zoetis were worth $716,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ZTS. Norges Bank bought a new stake in Zoetis during the 4th quarter worth about $980,646,000. Price T Rowe Associates Inc. MD raised its position in shares of Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after acquiring an additional 3,244,074 shares during the last quarter. Swedbank AB acquired a new position in shares of Zoetis in the 1st quarter valued at $210,815,000. Public Employees Retirement Association of Colorado bought a new position in shares of Zoetis in the 4th quarter worth $242,757,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Zoetis by 122.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after purchasing an additional 797,884 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZTS shares. HSBC lowered their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. BTIG Research started coverage on Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays decreased their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis presently has an average rating of “Buy” and an average target price of $212.67.

Zoetis Price Performance

Shares of ZTS traded down $1.83 during trading hours on Friday, hitting $180.59. 2,699,619 shares of the company were exchanged, compared to its average volume of 1,898,130. The company has a market cap of $82.40 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.83 and a beta of 0.86. The firm’s fifty day moving average is $175.44 and its 200 day moving average is $175.72. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last issued 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 during the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. On average, equities analysts anticipate that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is presently 33.14%.

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.