Harbor Investment Advisory LLC Acquires 764 Shares of Zoetis Inc. (NYSE:ZTS)

Harbor Investment Advisory LLC grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 13.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,599 shares of the company’s stock after buying an additional 764 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Zoetis were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ZTS. Hohimer Wealth Management LLC grew its stake in Zoetis by 1.2% in the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after purchasing an additional 52 shares in the last quarter. Forum Financial Management LP grew its stake in Zoetis by 0.8% in the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock worth $1,458,000 after purchasing an additional 56 shares in the last quarter. Angeles Wealth Management LLC grew its stake in Zoetis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after purchasing an additional 56 shares in the last quarter. Prossimo Advisors LLC grew its stake in Zoetis by 1.7% in the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after purchasing an additional 57 shares in the last quarter. Finally, River Street Advisors LLC grew its stake in Zoetis by 3.4% in the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock worth $347,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Zoetis Price Performance

Shares of ZTS opened at $171.83 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The business’s 50-day moving average is $167.00 and its two-hundred day moving average is $179.11. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a market capitalization of $78.41 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.66 and a beta of 0.89.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. Research analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ZTS shares. The Goldman Sachs Group lowered their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Barclays lowered their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Piper Sandler restated an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. HSBC lowered their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis has a consensus rating of “Buy” and an average price target of $211.75.

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.