Spinnaker Trust Invests $207,000 in Zoetis Inc. (NYSE:ZTS)

Spinnaker Trust purchased a new stake in shares of Zoetis Inc. (NYSE:ZTS) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,050 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently bought and sold shares of the business. River Street Advisors LLC raised its stake in Zoetis by 3.4% during the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after purchasing an additional 58 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Zoetis by 0.3% in the fourth quarter. Perigon Wealth Management LLC now owns 23,581 shares of the company’s stock valued at $4,654,000 after acquiring an additional 59 shares during the period. TFC Financial Management Inc. raised its stake in shares of Zoetis by 3.3% in the third quarter. TFC Financial Management Inc. now owns 1,918 shares of the company’s stock valued at $334,000 after acquiring an additional 61 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Zoetis by 5.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,281 shares of the company’s stock valued at $253,000 after acquiring an additional 61 shares during the period. Finally, Townsend Asset Management Corp NC ADV raised its stake in shares of Zoetis by 0.3% in the third quarter. Townsend Asset Management Corp NC ADV now owns 22,585 shares of the company’s stock valued at $3,929,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of several recent analyst reports. Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group upped their price target on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $218.00.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2,209 shares of company stock worth $371,293 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Zoetis Trading Up 3.3 %

Shares of NYSE ZTS traded up $5.06 during mid-day trading on Friday, reaching $158.42. The company had a trading volume of 5,236,463 shares, compared to its average volume of 4,019,007. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business’s 50-day moving average is $171.79 and its 200-day moving average is $179.29. The stock has a market cap of $72.45 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.85.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. 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 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s payout ratio is 34.12%.

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.