Bridges Investment Management Inc. Increases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Bridges Investment Management Inc. raised its stake in Zoetis Inc. (NYSE:ZTSFree Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,870 shares of the company’s stock after purchasing an additional 4,968 shares during the period. Bridges Investment Management Inc.’s holdings in Zoetis were worth $12,409,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Zoetis by 430.8% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. VitalStone Financial LLC acquired a new stake in shares of Zoetis in the first quarter valued at approximately $37,000. Evermay Wealth Management LLC boosted its holdings in shares of Zoetis by 439.3% in the first quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Zoetis in the first quarter valued at approximately $26,000. Finally, Independence Bank of Kentucky boosted its holdings in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the transaction, the executive vice president now owns 20,417 shares in the company, valued at $4,037,257.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 2,209 shares of company stock worth $408,453. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ZTS. Piper Sandler increased their price objective on Zoetis from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Stifel Nicolaus decreased their price objective on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $230.00 price objective on shares of Zoetis in a report on Tuesday, December 19th. Finally, BNP Paribas assumed coverage on Zoetis in a report on Thursday, December 7th. They set an “outperform” rating and a $237.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis currently has an average rating of “Buy” and an average price target of $222.11.

View Our Latest Stock Analysis on ZTS

Zoetis Price Performance

Shares of NYSE ZTS opened at $164.80 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The stock has a fifty day moving average price of $183.70 and a 200 day moving average price of $181.64. Zoetis Inc. has a 1-year low of $151.03 and a 1-year high of $201.92. The company has a market cap of $75.37 billion, a PE ratio of 32.14, a P/E/G ratio of 2.52 and a beta of 0.85.

Zoetis (NYSE:ZTSGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. Sell-side analysts forecast that Zoetis Inc. will post 5.8 EPS for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

About Zoetis

(Free Report)

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.

Read More

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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