First Trust Direct Indexing L.P. Acquires 794 Shares of Zoetis Inc. (NYSE:ZTS)

First Trust Direct Indexing L.P. boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,705 shares of the company’s stock after purchasing an additional 794 shares during the period. First Trust Direct Indexing L.P.’s holdings in Zoetis were worth $2,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZTS. Hohimer Wealth Management LLC increased its position in Zoetis by 1.2% in the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after buying an additional 52 shares in the last quarter. Forum Financial Management LP increased its position in Zoetis by 0.8% in the 4th quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock valued at $1,458,000 after buying an additional 56 shares in the last quarter. Angeles Wealth Management LLC increased its position in Zoetis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after buying an additional 56 shares in the last quarter. Prossimo Advisors LLC increased its position in Zoetis by 1.7% in the 4th quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock valued at $690,000 after buying an additional 57 shares in the last quarter. Finally, River Street Advisors LLC increased its position in Zoetis by 3.4% in the 4th quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after buying an additional 58 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, 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 SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $175.60 on Friday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The stock’s 50 day moving average price is $170.67 and its 200-day moving average price is $178.21. The company has a market capitalization of $80.13 billion, a PE ratio of 33.83, a PEG ratio of 2.73 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 (NYSE:ZTS) last announced 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. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced 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 0.98%. Zoetis’s payout ratio is presently 33.33%.

Analyst Ratings Changes

ZTS has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price 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 reissued an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus decreased their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. HSBC decreased their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Barclays decreased their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis has an average rating of “Buy” and a consensus price target of $211.75.

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.