Power Wealth Management LLC Makes New $818,000 Investment in Zoetis Inc. (NYSE:ZTS)

Power Wealth Management LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,145 shares of the company’s stock, valued at approximately $818,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Zoetis by 2.5% in the third quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock valued at $2,147,730,000 after acquiring an additional 297,044 shares during the last quarter. Northern Trust Corp increased its position in 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 in the last quarter. 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 lifted its stake in Zoetis by 3.1% in the 3rd quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after purchasing an additional 91,713 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the transaction, the executive vice president now owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,209 shares of company stock worth $371,293 in the last quarter. Company insiders own 0.16% of the company’s stock.

Zoetis Trading Down 0.1 %

Shares of ZTS traded down $0.16 during trading hours on Friday, hitting $167.07. 3,007,125 shares of the stock were exchanged, compared to its average volume of 4,607,073. The firm has a market capitalization of $76.41 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The business has a 50-day moving average of $168.88 and a 200-day moving average of $178.84.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.74% and a net margin of 27.38%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $1.31 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that Zoetis Inc. will post 5.77 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders 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 1.03%. Zoetis’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

ZTS has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Zoetis currently has an average rating of “Buy” and an average price target of $216.13.

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.