Edgestream Partners L.P. Takes $1.40 Million Position in Zoetis Inc. (NYSE:ZTS)

Edgestream Partners L.P. bought a new stake in Zoetis Inc. (NYSE:ZTS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,099 shares of the company’s stock, valued at approximately $1,395,000.

Several other institutional investors and hedge funds have also made changes to their positions in ZTS. Evermay Wealth Management LLC boosted its stake in shares of Zoetis by 439.3% in the first quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Zoetis by 430.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. Worth Asset Management LLC bought a new position in Zoetis during the 1st quarter valued at $26,000. Pacifica Partners Inc. boosted its stake in Zoetis by 76.9% during the 2nd quarter. Pacifica Partners Inc. now owns 161 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Zoetis during the 2nd quarter valued at $29,000. 89.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Zoetis from $205.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. The Goldman Sachs Group increased their price objective on shares of Zoetis from $204.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Argus increased their price objective on shares of Zoetis from $190.00 to $201.00 in a research note on Tuesday, September 19th. HSBC initiated coverage on shares of Zoetis in a research note on Wednesday, September 6th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis has an average rating of “Buy” and a consensus target price of $216.29.

Zoetis Stock Up 0.7 %

Shares of NYSE:ZTS opened at $176.06 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.16 and a current ratio of 3.87. Zoetis Inc. has a 1-year low of $140.76 and a 1-year high of $194.99. The company’s fifty day moving average is $171.65 and its two-hundred day moving average is $175.63. The stock has a market capitalization of $80.83 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83.

Zoetis Announces Dividend

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

Insider Buying and Selling

In related news, EVP Heidi C. Chen sold 9,905 shares of the stock in a transaction dated Friday, September 15th. The shares were 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 owns 27,478 shares of the company’s stock, valued at approximately $4,950,161.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $179.58, for a total transaction of $165,752.34. Following the transaction, the executive vice president now owns 24,511 shares of the company’s stock, valued at approximately $4,401,685.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Heidi C. Chen sold 9,905 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $180.15, for a total transaction of $1,784,385.75. Following the transaction, the executive vice president now directly owns 27,478 shares in the company, valued at approximately $4,950,161.70. The disclosure for this sale can be found here. Insiders have sold a total of 13,597 shares of company stock valued at $2,451,650 in the last quarter. Company insiders own 0.12% of the company’s stock.

Zoetis Profile

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.