Cary Street Partners Asset Management LLC Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

Cary Street Partners Asset Management LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,927 shares of the company’s stock after selling 76 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Zoetis were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ZTS. Hartford Funds Management Co LLC acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $292,000. Savant Capital LLC grew its holdings in Zoetis by 9.0% in the 4th quarter. Savant Capital LLC now owns 8,002 shares of the company’s stock valued at $1,579,000 after buying an additional 660 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in Zoetis by 17.6% in the 4th quarter. Alpha Cubed Investments LLC now owns 118,162 shares of the company’s stock valued at $23,322,000 after buying an additional 17,708 shares in the last quarter. MONECO Advisors LLC acquired a new stake in shares of Zoetis in the 4th quarter worth $200,000. Finally, Brighton Jones LLC raised its holdings in shares of Zoetis by 12.4% during the 4th quarter. Brighton Jones LLC now owns 3,127 shares of the company’s stock worth $617,000 after acquiring an additional 344 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus dropped their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. The Goldman Sachs Group upped their price objective on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $216.13.

Zoetis Trading Down 0.4 %

ZTS opened at $158.53 on Thursday. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The firm has a market cap of $72.51 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.50 and a beta of 0.86. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The business has a fifty day simple moving average of $170.07 and a 200-day simple moving average of $178.97.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts expect that Zoetis Inc. will post 5.78 earnings per share for the current year.

Zoetis Dividend Announcement

The business 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 dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.09%. Zoetis’s dividend payout ratio (DPR) is 34.12%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the transaction, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 2,209 shares of company stock valued at $371,293 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

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.