Vaughan Nelson Investment Management L.P. Buys 334,804 Shares of Zoetis Inc. (NYSE:ZTS)

Vaughan Nelson Investment Management L.P. increased its stake in Zoetis Inc. (NYSE:ZTS) by 34.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,294,320 shares of the company’s stock after acquiring an additional 334,804 shares during the period. Zoetis comprises about 1.9% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 13th largest holding. Vaughan Nelson Investment Management L.P. owned approximately 0.28% of Zoetis worth $219,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Bell Private Wealth Management LLC increased its position in shares of Zoetis by 222.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Independence Bank of Kentucky increased its position in shares of Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Zoetis during the fourth quarter valued at about $33,000. Webster Bank N. A. increased its position in shares of Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the period. Finally, Ramirez Asset Management Inc. purchased a new position in shares of Zoetis during the third quarter valued at about $35,000. 92.80% of the stock is currently owned by institutional investors.

Insider Transactions at Zoetis

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

Zoetis Stock Performance

ZTS stock traded up $2.64 during midday trading on Tuesday, reaching $175.22. 48,837 shares of the company’s stock traded hands, compared to its average volume of 2,935,900. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a market cap of $79.95 billion, a P/E ratio of 33.25, a PEG ratio of 2.69 and a beta of 0.86. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The stock’s 50-day moving average is $168.69 and its 200 day moving average is $178.59.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. The Goldman Sachs Group dropped their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. HSBC dropped their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $211.75.

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.