Cornerstone Wealth Group LLC Buys 254 Shares of Zoetis Inc. (NYSE:ZTS)

Cornerstone Wealth Group LLC raised its stake in Zoetis Inc. (NYSE:ZTS) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,257 shares of the company’s stock after buying an additional 254 shares during the period. Cornerstone Wealth Group LLC’s holdings in Zoetis were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ZTS. Rakuten Securities Inc. lifted its stake in shares of Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after acquiring an additional 166 shares during the period. Navigoe LLC bought a new position in Zoetis during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Zoetis in the 4th quarter worth approximately $44,000. Sound Income Strategies LLC lifted its position in shares of Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after purchasing an additional 164 shares during the period. Finally, Bfsg LLC boosted its stake in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company’s stock valued at $48,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ZTS. UBS Group lowered their target price on shares of 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 stock an “overweight” rating in a report on Monday, May 12th. Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average price target of $212.13.

Zoetis Stock Performance

Shares of ZTS opened at $157.76 on Wednesday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a market cap of $70.23 billion, a PE ratio of 28.32, a P/E/G ratio of 2.61 and a beta of 0.94. The stock has a 50-day moving average of $159.89 and a 200-day moving average of $163.06. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities research analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s dividend payout ratio is currently 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Zoetis Company 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.