Farrow Financial Inc. Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Farrow Financial Inc. increased its position in Zoetis Inc. (NYSE:ZTS) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 12,227 shares of the company’s stock after buying an additional 657 shares during the period. Farrow Financial Inc.’s holdings in Zoetis were worth $1,984,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC raised its stake in Zoetis by 0.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock valued at $20,489,000 after acquiring an additional 883 shares during the last quarter. Principal Financial Group Inc. raised its stake in Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company’s stock valued at $464,497,000 after acquiring an additional 351,372 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Zoetis by 62.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,020 shares of the company’s stock valued at $590,000 after acquiring an additional 1,165 shares during the last quarter. Summit Global Investments raised its stake in Zoetis by 344.8% during the 3rd quarter. Summit Global Investments now owns 5,173 shares of the company’s stock valued at $1,011,000 after acquiring an additional 4,010 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Zoetis during the 3rd quarter valued at approximately $33,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the sale, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Zoetis Stock Performance

ZTS opened at $170.34 on Friday. The stock has a market cap of $76.28 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $166.72 and its 200 day simple moving average is $176.78. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZTS. Stifel Nicolaus cut their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Piper Sandler increased their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. StockNews.com raised Zoetis from a “hold” rating to a “buy” rating in a research note on Friday. Leerink Partners began coverage on Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price for the company. Finally, Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $215.90.

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.