Zoetis Inc. (NYSE:ZTS) Shares Sold by West Coast Financial LLC

West Coast Financial LLC trimmed its stake in shares of Zoetis Inc. (NYSE:ZTSFree Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,988 shares of the company’s stock after selling 585 shares during the period. Zoetis comprises about 1.4% of West Coast Financial LLC’s holdings, making the stock its 23rd biggest position. West Coast Financial LLC’s holdings in Zoetis were worth $11,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peak Financial Advisors LLC acquired a new stake in shares of Zoetis during the 4th quarter valued at approximately $2,776,000. Focus Financial Network Inc. ADV purchased a new position in shares of Zoetis during the 4th quarter worth approximately $2,159,000. Price T Rowe Associates Inc. MD increased its stake in shares of Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Zoetis by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of 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 purchasing an additional 17,976 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction on 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 owns 14,800 shares in the company, valued at approximately $2,237,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Zoetis Trading Down 1.8 %

Shares of NYSE ZTS traded down $3.06 during trading on Tuesday, hitting $168.78. 994,276 shares of the company traded hands, compared to its average volume of 2,946,923. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a 50-day moving average price of $167.00 and a 200-day moving average price of $179.11. The firm has a market capitalization of $77.01 billion, a P/E ratio of 32.84, a P/E/G ratio of 2.66 and a beta of 0.89. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTSGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. On average, equities analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.02%. Zoetis’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZTS shares. Barclays dropped their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Piper Sandler reissued an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. The Goldman Sachs Group lowered their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, HSBC lowered their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus price target of $211.75.

Read Our Latest Stock Report on ZTS

About Zoetis

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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