Promus Capital LLC Takes $458,000 Position in Zoetis Inc. (NYSE:ZTS)

Promus Capital LLC acquired a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,812 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mission Wealth Management LP boosted its stake in shares of Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock valued at $479,000 after purchasing an additional 59 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock valued at $3,628,000 after purchasing an additional 61 shares in the last quarter. Strategy Asset Managers LLC boosted its stake in shares of Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock valued at $356,000 after purchasing an additional 62 shares in the last quarter. VeraBank N.A. boosted its stake in shares of Zoetis by 4.1% during the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock valued at $254,000 after purchasing an additional 62 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of Zoetis by 1.4% during the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock valued at $768,000 after purchasing an additional 63 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Trading Down 1.7 %

NYSE ZTS opened at $166.96 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $166.57 and a two-hundred day simple moving average of $176.99. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The stock has a market cap of $74.76 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend 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 Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZTS shares. Piper Sandler raised their target price on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price for the company. Morgan Stanley lowered their target price 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. Stifel Nicolaus lowered 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. Finally, Leerink Partners initiated coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $215.90.

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.