Bright Futures Wealth Management LLC. Makes New $916,000 Investment in Zoetis Inc. (NYSE:ZTS)

Bright Futures Wealth Management LLC. acquired a new position in shares of Zoetis Inc. (NYSE:ZTS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,383 shares of the company’s stock, valued at approximately $916,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Zoetis by 0.5% during the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company’s stock worth $3,864,488,000 after purchasing an additional 95,856 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Zoetis by 1.8% in the third quarter. Geode Capital Management LLC now owns 10,427,760 shares of the company’s stock valued at $2,030,813,000 after acquiring an additional 185,364 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after acquiring an additional 4,829,815 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Zoetis by 5.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,896,106 shares of the company’s stock valued at $761,221,000 after acquiring an additional 194,542 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock valued at $569,834,000 after acquiring an additional 279,092 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Trading Down 4.9 %

NYSE:ZTS opened at $165.28 on Friday. The company has a market cap of $74.57 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.77 and a beta of 0.90. The stock’s fifty day moving average price is $169.08 and its two-hundred day moving average price is $179.08. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.53. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27.

Zoetis (NYSE:ZTS) last posted 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 return on equity of 51.98% and a net margin of 26.55%. As a group, analysts expect that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be given 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 1.21%. Zoetis’s dividend payout ratio is currently 37.59%.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZTS. Stifel Nicolaus reduced their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Piper Sandler reduced their target price on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley reduced their price objective on Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group started coverage on Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective for the company. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $214.00.

Zoetis Company 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.