Legacy Wealth Asset Management LLC Raises Holdings in Zoetis Inc. (NYSE:ZTS)

Legacy Wealth Asset Management LLC lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,307 shares of the company’s stock after buying an additional 137 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Zoetis were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Peak Financial Advisors LLC acquired a new position in shares of Zoetis during the 4th quarter worth $2,776,000. Focus Financial Network Inc. ADV purchased a new position in Zoetis in the fourth quarter valued at about $2,159,000. Price T Rowe Associates Inc. MD lifted 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 period. Ninety One UK Ltd boosted its stake in shares of Zoetis by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after acquiring an additional 12,537 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after acquiring an additional 17,976 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group decreased their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. HSBC dropped their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $211.75.

Zoetis Trading Up 0.5 %

ZTS stock traded up $0.79 during midday trading on Thursday, hitting $175.60. The stock had a trading volume of 1,251,823 shares, compared to its average volume of 2,409,660. The company’s 50-day moving average price is $170.23 and its 200 day moving average price is $178.23. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The firm has a market cap of $80.13 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. Zoetis’s payout ratio is currently 33.33%.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at $2,237,316. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.