Aviance Capital Partners LLC Purchases 1,822 Shares of Zoetis Inc. (NYSE:ZTS)

Aviance Capital Partners LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 5.9% in the first quarter, Holdings Channel reports. The institutional investor owned 32,656 shares of the company’s stock after buying an additional 1,822 shares during the period. Zoetis comprises 0.8% of Aviance Capital Partners LLC’s portfolio, making the stock its 28th biggest holding. Aviance Capital Partners LLC’s holdings in Zoetis were worth $5,377,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ZTS. Rakuten Securities Inc. grew its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Navigoe LLC bought a new position in shares of Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis during the fourth quarter worth about $44,000. Sound Income Strategies LLC grew its holdings in shares of Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after buying an additional 164 shares in the last quarter. Finally, Bfsg LLC grew its stake 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 purchasing an additional 252 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Zoetis Stock Performance

NYSE:ZTS opened at $159.19 on Friday. The stock has a market cap of $70.87 billion, a P/E ratio of 28.58, a PEG ratio of 2.64 and a beta of 0.91. The stock has a 50 day simple moving average of $161.05 and a 200 day simple moving average of $162.20. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.38 EPS. Research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.26%. Zoetis’s payout ratio is currently 35.91%.

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.