Forza Wealth Management LLC Has $532,000 Stock Position in Zoetis Inc. (NYSE:ZTS)

Forza Wealth Management LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,234 shares of the company’s stock after selling 98 shares during the quarter. Forza Wealth Management LLC’s holdings in Zoetis were worth $532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in Zoetis by 180.4% in the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after purchasing an additional 2,978 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Zoetis by 5.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company’s stock valued at $68,354,000 after purchasing an additional 21,470 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Zoetis by 61.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,053 shares of the company’s stock valued at $497,000 after buying an additional 1,157 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Zoetis by 25.7% in the 4th quarter. Independent Advisor Alliance now owns 7,211 shares of the company’s stock valued at $1,175,000 after buying an additional 1,475 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of Zoetis by 27.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 21,312 shares of the company’s stock valued at $3,472,000 after buying an additional 4,546 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ZTS. UBS Group lowered their price objective on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Piper Sandler boosted their price target on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Finally, Stifel Nicolaus cut Zoetis from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $212.13.

Zoetis Stock Performance

Zoetis stock opened at $158.30 on Thursday. The business has a 50 day moving average of $161.30 and a 200-day moving average of $161.97. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.74 and a quick ratio of 1.04. The company has a market capitalization of $70.48 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.62 and a beta of 0.91.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company posted $1.38 EPS. The company’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. Zoetis’s payout ratio is 35.91%.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares of the company’s stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

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.