Congress Asset Management Co. MA Raises Stock Position in Zoetis Inc. (NYSE:ZTS)

Congress Asset Management Co. MA grew its holdings in Zoetis Inc. (NYSE:ZTS) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 747,580 shares of the company’s stock after acquiring an additional 78,773 shares during the period. Zoetis comprises about 1.2% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 12th biggest position. Congress Asset Management Co. MA owned about 0.16% of Zoetis worth $147,550,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC boosted its stake in Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Zoetis in the fourth quarter valued at $33,000. Ramirez Asset Management Inc. bought a new stake in Zoetis in the third quarter worth $35,000. Finally, Gladius Capital Management LP purchased a new stake in Zoetis during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ZTS shares. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Stifel Nicolaus lowered 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. Barclays cut their price target 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 decreased their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Finally, StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $211.75.

Insider Buying and Selling

In other news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Zoetis Stock Down 0.4 %

Shares of ZTS stock traded down $0.77 during trading hours on Friday, reaching $170.55. 2,225,314 shares of the company’s stock were exchanged, compared to its average volume of 2,110,836. The stock has a market cap of $77.82 billion, a PE ratio of 32.86, a PEG ratio of 2.66 and a beta of 0.88. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The stock’s fifty day moving average price is $165.75 and its two-hundred day moving average price is $179.51. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Research analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed 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 1.01%. Zoetis’s payout ratio is currently 33.33%.

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.