Hennion & Walsh Asset Management Inc. Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 73.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,315 shares of the company’s stock after buying an additional 984 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Zoetis were worth $392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the period. Webster Bank N. A. lifted its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Independence Bank of Kentucky grew its holdings in Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 130 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Zoetis during the 4th quarter valued at about $33,000. Finally, Ramirez Asset Management Inc. bought a new stake in shares of Zoetis in the 3rd quarter valued at about $35,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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 sale, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Zoetis Stock Up 0.4 %

ZTS stock opened at $175.57 on Thursday. The stock has a market capitalization of $80.11 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.69 and a beta of 0.86. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The firm has a 50 day moving average of $169.73 and a 200 day moving average of $178.25.

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

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 annualized dividend and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

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.