Verdence Capital Advisors LLC Purchases 3,786 Shares of Zoetis Inc. (NYSE:ZTS)

Verdence Capital Advisors LLC boosted its stake in Zoetis Inc. (NYSE:ZTS) by 53.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,846 shares of the company’s stock after purchasing an additional 3,786 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Zoetis were worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Navigoe LLC bought a new stake in Zoetis in the 4th quarter worth about $30,000. Cornerstone Planning Group LLC grew its stake in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis during the 4th quarter valued at approximately $44,000. Sound Income Strategies LLC lifted its holdings in Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after purchasing an additional 164 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company’s stock worth $48,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

NYSE:ZTS opened at $150.00 on Friday. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $66.78 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.91. The firm has a 50-day moving average price of $161.00 and a 200 day moving average price of $161.54.

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

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s payout ratio is currently 35.91%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ZTS shares. UBS Group decreased their price objective on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Piper Sandler increased their price target on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Stifel Nicolaus cut Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Leerink Partners cut Zoetis from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $180.00 to $155.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Zoetis has an average rating of “Moderate Buy” and a consensus price target of $204.63.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% 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.