Carnegie Capital Asset Management LLC Has $34.35 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Carnegie Capital Asset Management LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,060 shares of the company’s stock after acquiring an additional 1,527 shares during the period. Zoetis comprises about 1.2% of Carnegie Capital Asset Management LLC’s portfolio, making the stock its 15th biggest position. Carnegie Capital Asset Management LLC’s holdings in Zoetis were worth $34,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its position in Zoetis by 7.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock worth $16,308,000 after acquiring an additional 6,457 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in Zoetis during the 4th quarter worth $2,776,000. BLB&B Advisors LLC grew its position in Zoetis by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock worth $10,591,000 after acquiring an additional 1,107 shares during the last quarter. Ronald Blue Trust Inc. grew its position in Zoetis by 5.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 6,216 shares of the company’s stock worth $1,070,000 after acquiring an additional 317 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Zoetis by 10.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after acquiring an additional 17,976 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ZTS. Piper Sandler boosted their price objective on Zoetis from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $230.00 price target on shares of Zoetis in a research report on Tuesday, December 19th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus reduced their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, Barclays upped their price target on Zoetis from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $224.88.

Zoetis Trading Down 7.8 %

Shares of Zoetis stock traded down $12.75 on Friday, hitting $149.98. 11,577,753 shares of the company’s stock traded hands, compared to its average volume of 3,015,519. Zoetis Inc. has a one year low of $148.48 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The company has a fifty day moving average of $179.92 and a two-hundred day moving average of $180.87. The company has a market capitalization of $68.59 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Zoetis Inc. will post 5.8 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.15%. Zoetis’s payout ratio is currently 34.12%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $191.43, for a total value of $176,689.89. Following the transaction, the executive vice president now owns 17,569 shares in the company, valued at $3,363,233.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 2,209 shares of company stock worth $408,453. Corporate insiders own 0.12% of the company’s stock.

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.