Forte Capital LLC ADV Has $380,000 Stake in Zoetis Inc. (NYSE:ZTS)

Forte Capital LLC ADV increased its position in Zoetis Inc. (NYSE:ZTS) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,305 shares of the company’s stock after purchasing an additional 94 shares during the period. Forte Capital LLC ADV’s holdings in Zoetis were worth $380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZTS. Schroder Investment Management Group boosted its stake in shares of Zoetis by 2.6% during the 4th quarter. Schroder Investment Management Group now owns 245,726 shares of the company’s stock valued at $40,036,000 after buying an additional 6,169 shares during the period. Vanguard Group Inc. boosted its stake in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock valued at $6,739,905,000 after buying an additional 120,158 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company’s stock valued at $5,550,000 after buying an additional 6,672 shares during the period. Tandem Investment Advisors Inc. raised its holdings in shares of Zoetis by 100.3% during the 1st quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company’s stock valued at $65,140,000 after purchasing an additional 198,089 shares in the last quarter. Finally, Horizon Financial Services LLC bought a new position in shares of Zoetis during the 1st quarter valued at $380,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of a number of recent research reports. Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $180.00 to $155.00 in a report on Thursday. Piper Sandler raised their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, UBS Group dropped their target price on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.63.

Insiders Place Their Bets

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 owned 15,129 shares of the company’s stock, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Zoetis Stock Performance

NYSE:ZTS opened at $150.00 on Friday. The firm’s 50-day moving average is $161.00 and its 200-day moving average is $161.54. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The company has a market cap of $66.78 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.51 and a beta of 0.91.

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

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. 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 1.33%. 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.