Evergreen Private Wealth LLC Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Evergreen Private Wealth LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,747 shares of the company’s stock after acquiring an additional 1,201 shares during the period. Zoetis accounts for approximately 2.3% of Evergreen Private Wealth LLC’s portfolio, making the stock its 16th largest holding. Evergreen Private Wealth LLC’s holdings in Zoetis were worth $4,898,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ZTS. Navigoe LLC purchased a new position in Zoetis in the 4th quarter worth approximately $30,000. Cornerstone Planning Group LLC lifted its position in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Zoetis during the fourth quarter valued at $44,000. Sound Income Strategies LLC lifted its position in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock valued at $46,000 after purchasing an additional 164 shares in the last quarter. Finally, Bfsg LLC lifted its position in Zoetis by 614.6% during 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. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler boosted their price objective 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 downgraded Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, UBS Group cut their target price on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Two equities research 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. According to MarketBeat, the stock 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 Zoetis stock in a transaction dated 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 transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS opened at $154.91 on Monday. The firm has a market cap of $68.97 billion, a PE ratio of 27.81, a P/E/G ratio of 2.57 and a beta of 0.91. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $161.32 and a 200-day moving average price of $161.82. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33.

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

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be paid 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 dividend yield of 1.29%. 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.