Transcend Capital Advisors LLC Boosts Stock Position in Zoetis Inc. (NYSE:ZTS)

Transcend Capital Advisors LLC raised its position in Zoetis Inc. (NYSE:ZTS) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,957 shares of the company’s stock after purchasing an additional 125 shares during the period. Transcend Capital Advisors LLC’s holdings in Zoetis were worth $386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Zoetis by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after acquiring an additional 297,044 shares during the period. Northern Trust Corp grew its holdings in shares of Zoetis by 3.3% during the 3rd quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock worth $1,068,804,000 after purchasing an additional 196,771 shares during the period. Bank of New York Mellon Corp increased its position in Zoetis by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,998,989 shares of the company’s stock worth $695,744,000 after purchasing an additional 150,918 shares in the last quarter. Royal Bank of Canada raised its holdings in Zoetis by 3.1% in the third quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after buying an additional 91,713 shares during the period. Finally, Blair William & Co. IL grew its stake in Zoetis by 1.4% during the third quarter. Blair William & Co. IL now owns 2,428,509 shares of the company’s stock worth $422,512,000 after buying an additional 32,918 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $173.33, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 2,209 shares of company stock worth $371,293. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZTS. The Goldman Sachs Group lifted their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays dropped their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus cut their target price on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $218.00.

Zoetis Trading Up 0.9 %

NYSE ZTS opened at $159.78 on Tuesday. The firm has a market capitalization of $73.08 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a 50-day simple moving average of $171.21 and a 200-day simple moving average of $179.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. On average, equities analysts forecast that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Dividend Announcement

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 paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.08%. Zoetis’s payout ratio is currently 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.