Parr Mcknight Wealth Management Group LLC Buys New Holdings in Zoetis Inc. (NYSE:ZTS)

Parr Mcknight Wealth Management Group LLC purchased a new position in Zoetis Inc. (NYSE:ZTS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,181 shares of the company’s stock, valued at approximately $2,636,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Zoetis by 10.6% during the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock valued at $569,834,000 after purchasing an additional 279,092 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Zoetis by 10.4% during the 4th quarter. Atomi Financial Group Inc. now owns 6,651 shares of the company’s stock worth $1,084,000 after purchasing an additional 626 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Zoetis by 13.8% in the 4th quarter. Simon Quick Advisors LLC now owns 3,017 shares of the company’s stock worth $492,000 after purchasing an additional 366 shares during the period. Advisory Alpha LLC increased its position in Zoetis by 7.8% in the fourth quarter. Advisory Alpha LLC now owns 3,481 shares of the company’s stock worth $567,000 after buying an additional 253 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Zoetis by 65.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 172,111 shares of the company’s stock worth $28,042,000 after acquiring an additional 68,227 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Up 0.4%

NYSE ZTS opened at $162.10 on Friday. The firm has a market cap of $72.17 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The stock has a 50-day moving average of $156.51 and a 200-day moving average of $164.96. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 earnings per share. As a group, sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Zoetis’s dividend payout ratio is currently 35.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZTS. Stifel Nicolaus lowered their target price on shares of Zoetis from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley cut their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Piper Sandler increased their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Wall Street Zen raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. 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 report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $212.75.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. The trade was a 9.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% 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.