First Merchants Corp Has $4.12 Million Stake in Zoetis Inc. (NYSE:ZTS)

First Merchants Corp grew its position in Zoetis Inc. (NYSE:ZTS) by 946.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,281 shares of the company’s stock after acquiring an additional 22,865 shares during the period. First Merchants Corp’s holdings in Zoetis were worth $4,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cherry Creek Investment Advisors Inc. boosted its holdings in Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after purchasing an additional 58 shares during the last quarter. Hancock Whitney Corp lifted its position in Zoetis by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after buying an additional 61 shares in the last quarter. Strategy Asset Managers LLC lifted its position in Zoetis by 3.5% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after buying an additional 62 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of Zoetis by 1.4% in the 4th quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after acquiring an additional 63 shares in the last quarter. Finally, Aberdeen Wealth Management LLC grew its holdings in shares of Zoetis by 1.9% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 3,566 shares of the company’s stock valued at $697,000 after acquiring an additional 68 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Down 4.9 %

Zoetis stock opened at $165.28 on Friday. The company’s 50-day moving average price is $169.08 and its two-hundred day moving average price is $179.08. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market cap of $74.57 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.77 and a beta of 0.90. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.53.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. As a group, analysts expect that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio is currently 37.59%.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler decreased their target price on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. Leerink Partners initiated coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has an average rating of “Buy” and a consensus target price of $214.00.

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.