Destination Wealth Management Acquires 1,242 Shares of Zoetis Inc. (NYSE:ZTS)

Destination Wealth Management lifted its position in Zoetis Inc. (NYSE:ZTS) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,086 shares of the company’s stock after purchasing an additional 1,242 shares during the period. Destination Wealth Management’s holdings in Zoetis were worth $20,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Howard Capital Management Group LLC increased its stake in shares of Zoetis by 0.8% in the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock worth $20,489,000 after purchasing an additional 883 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Zoetis by 5.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,322 shares of the company’s stock worth $454,000 after purchasing an additional 111 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Zoetis by 7.0% in the third quarter. Concurrent Investment Advisors LLC now owns 9,674 shares of the company’s stock worth $1,890,000 after purchasing an additional 635 shares in the last quarter. Spinnaker Trust purchased a new stake in shares of Zoetis in the third quarter worth $260,000. Finally, M&G PLC increased its stake in shares of Zoetis by 1.6% in the third quarter. M&G PLC now owns 77,230 shares of the company’s stock worth $15,060,000 after purchasing an additional 1,253 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZTS shares. Morgan Stanley reduced their price objective on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. StockNews.com cut shares of Zoetis from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group began coverage on shares of Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 target price for the company. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus cut their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $215.90.

Zoetis Price Performance

ZTS stock opened at $167.26 on Friday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.33. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $166.61 and a two-hundred day simple moving average of $176.92. The firm has a market capitalization of $74.90 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.