Miracle Mile Advisors LLC Raises Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Miracle Mile Advisors LLC boosted its stake in Zoetis Inc. (NYSE:ZTS) by 42.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,373 shares of the company’s stock after buying an additional 703 shares during the period. Miracle Mile Advisors LLC’s holdings in Zoetis were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock worth $754,000 after buying an additional 2,978 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Zoetis during the fourth quarter worth about $1,646,000. Kingsview Wealth Management LLC grew its position in shares of Zoetis by 1.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,986 shares of the company’s stock worth $1,627,000 after buying an additional 97 shares in the last quarter. Savant Capital LLC grew its position in shares of Zoetis by 5.3% during the fourth quarter. Savant Capital LLC now owns 6,271 shares of the company’s stock worth $1,022,000 after buying an additional 313 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Zoetis during the fourth quarter worth about $63,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president now directly owns 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Zoetis Stock Performance

NYSE ZTS opened at $167.10 on Wednesday. The business’s 50-day moving average price is $157.58 and its 200 day moving average price is $164.14. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company has a market capitalization of $74.39 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.38 EPS. On average, research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. Zoetis’s payout ratio is currently 35.91%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ZTS. Piper Sandler upped their price target on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Stifel Nicolaus lowered their price target on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, April 14th. Barclays upped their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Morgan Stanley lowered their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $212.75.

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.