425 Shares in Zoetis Inc. (NYSE:ZTS) Acquired by Byrne Asset Management LLC

Byrne Asset Management LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 425 shares of the company’s stock, valued at approximately $70,000.

A number of other institutional investors have also added to or reduced their stakes in ZTS. Norges Bank purchased a new stake in shares of Zoetis in the fourth quarter worth approximately $824,321,000. Wellington Management Group LLP raised its stake in shares of Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in shares of Zoetis in the first quarter worth approximately $339,111,000. GAMMA Investing LLC raised its stake in shares of Zoetis by 14,731.3% in the first quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company’s stock worth $289,666,000 after purchasing an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Zoetis in the fourth quarter worth approximately $196,651,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ZTS shares. UBS Group lowered their price objective on Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Piper Sandler increased their price target on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Stifel Nicolaus decreased their price target on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Barclays increased their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Zoetis has a consensus rating of “Buy” and an average price target of $212.75.

Zoetis Price Performance

Shares of NYSE ZTS opened at $164.27 on Friday. The stock has a fifty day simple moving average of $158.67 and a two-hundred day simple moving average of $164.01. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The firm has a market cap of $73.13 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. Zoetis’s payout ratio is 35.91%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.