New World Advisors LLC Has $765,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

New World Advisors LLC raised its holdings in Zoetis Inc. (NYSE:ZTS) by 37.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,649 shares of the company’s stock after purchasing an additional 1,265 shares during the quarter. Zoetis accounts for approximately 0.2% of New World Advisors LLC’s investment portfolio, making the stock its 21st biggest position. New World Advisors LLC’s holdings in Zoetis were worth $765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ZTS. Rakuten Securities Inc. lifted its holdings 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 last quarter. Navigoe LLC acquired a new position in shares of Zoetis during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis during the 4th quarter worth about $44,000. Sound Income Strategies LLC lifted its stake in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC boosted its holdings in Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company’s stock valued at $48,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ZTS shares. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Piper Sandler lifted their target price on shares of Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and decreased their price target for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $212.13.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction 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. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Zoetis Stock Down 0.2%

Shares of NYSE ZTS opened at $157.41 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The firm has a market cap of $70.08 billion, a PE ratio of 28.26, a P/E/G ratio of 2.62 and a beta of 0.94. The company’s fifty day simple moving average is $160.10 and its 200 day simple moving average is $163.02. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal 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 issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.27%. Zoetis’s payout ratio is currently 35.91%.

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.