Edgestream Partners L.P. Purchases New Shares in Zoetis Inc. (NYSE:ZTS)

Edgestream Partners L.P. purchased a new stake in Zoetis Inc. (NYSE:ZTS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,099 shares of the company’s stock, valued at approximately $1,395,000.

A number of other institutional investors have also made changes to their positions in the business. Enterprise Financial Services Corp raised its holdings in shares of Zoetis by 2.3% in the first quarter. Enterprise Financial Services Corp now owns 2,446 shares of the company’s stock valued at $407,000 after buying an additional 55 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in Zoetis by 3.4% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,700 shares of the company’s stock worth $293,000 after purchasing an additional 56 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its holdings in Zoetis by 1.8% during the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 3,298 shares of the company’s stock worth $568,000 after purchasing an additional 58 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Zoetis by 1.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 4,676 shares of the company’s stock worth $805,000 after purchasing an additional 61 shares during the last quarter. Finally, New World Advisors LLC raised its holdings in Zoetis by 2.9% during the 2nd quarter. New World Advisors LLC now owns 2,190 shares of the company’s stock worth $377,000 after purchasing an additional 61 shares during the last quarter. 89.47% of the stock is owned by institutional investors.

Zoetis Price Performance

Shares of ZTS opened at $176.06 on Tuesday. Zoetis Inc. has a 52-week low of $140.76 and a 52-week high of $194.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.16 and a current ratio of 3.87. The stock has a 50 day simple moving average of $171.65 and a 200 day simple moving average of $175.63. The firm has a market capitalization of $80.83 billion, a PE ratio of 35.78, a P/E/G ratio of 2.85 and a beta of 0.83.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a dividend of $0.375 per share. The ex-dividend date is Tuesday, October 31st. This represents a $1.50 annualized dividend and a yield of 0.85%. Zoetis’s dividend payout ratio (DPR) is presently 30.49%.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $172.92, for a total transaction of $159,605.16. Following the completion of the transaction, the executive vice president now directly owns 23,588 shares of the company’s stock, valued at $4,078,836.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $172.92, for a total transaction of $159,605.16. Following the completion of the sale, the executive vice president now owns 23,588 shares in the company, valued at $4,078,836.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Heidi C. Chen sold 9,905 shares of Zoetis stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $180.15, for a total value of $1,784,385.75. Following the sale, the executive vice president now directly owns 27,478 shares of the company’s stock, valued at $4,950,161.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,597 shares of company stock worth $2,451,650. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of several recent research reports. Argus boosted their price objective on Zoetis from $190.00 to $201.00 in a report on Tuesday, September 19th. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 8th. Piper Sandler boosted their price objective on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, November 6th. Stifel Nicolaus dropped their price objective on Zoetis from $205.00 to $195.00 and set a “buy” rating for the company in a report on Monday, October 30th. Finally, The Goldman Sachs Group upped their price target on Zoetis from $204.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $216.29.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It 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.