Heritage Wealth Management LLC Takes $647,000 Position in Zoetis Inc. (NYSE:ZTS)

Heritage Wealth Management LLC acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,280 shares of the company’s stock, valued at approximately $647,000.

Several other hedge funds have also recently made changes to their positions in ZTS. River Street Advisors LLC lifted its holdings in shares of Zoetis by 3.4% in the 4th quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after acquiring an additional 58 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of Zoetis by 0.3% during the fourth quarter. Perigon Wealth Management LLC now owns 23,581 shares of the company’s stock valued at $4,654,000 after buying an additional 59 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Zoetis by 5.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,281 shares of the company’s stock worth $253,000 after acquiring an additional 61 shares during the last quarter. Ellevest Inc. boosted its holdings in Zoetis by 2.4% during the 3rd quarter. Ellevest Inc. now owns 2,790 shares of the company’s stock valued at $485,000 after acquiring an additional 66 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in Zoetis by 0.4% in the third quarter. Atria Wealth Solutions Inc. now owns 15,975 shares of the company’s stock worth $2,779,000 after purchasing an additional 70 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the completion of the transaction, the executive vice president now owns 15,723 shares in the company, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 2,209 shares of company stock worth $371,293. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays decreased their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus price target of $216.13.

Zoetis Stock Up 6.4 %

ZTS stock traded up $10.09 during trading on Thursday, hitting $168.59. 1,961,701 shares of the company’s stock traded hands, compared to its average volume of 3,136,757. The firm has a market capitalization of $77.11 billion, a P/E ratio of 33.13, a PEG ratio of 2.50 and a beta of 0.86. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $170.07 and a two-hundred day simple moving average of $178.97.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. Sell-side analysts anticipate that Zoetis Inc. will post 5.78 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

About Zoetis

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.