Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Zoetis Inc. (NYSE:ZTS)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Zoetis Inc. (NYSE:ZTS) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,732 shares of the company’s stock after selling 1,476 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zoetis were worth $30,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Everence Capital Management Inc. raised its holdings in shares of Zoetis by 31.7% in the fourth quarter. Everence Capital Management Inc. now owns 17,900 shares of the company’s stock worth $3,533,000 after buying an additional 4,310 shares during the last quarter. First American Trust FSB raised its holdings in shares of Zoetis by 2.6% in the fourth quarter. First American Trust FSB now owns 45,423 shares of the company’s stock worth $8,965,000 after buying an additional 1,150 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of Zoetis by 1.5% in the fourth quarter. Capital Analysts LLC now owns 51,332 shares of the company’s stock worth $10,131,000 after buying an additional 739 shares during the last quarter. Keel Point LLC raised its holdings in shares of Zoetis by 7.3% in the fourth quarter. Keel Point LLC now owns 2,173 shares of the company’s stock worth $429,000 after buying an additional 148 shares during the last quarter. Finally, Bison Wealth LLC raised its holdings in shares of Zoetis by 6.3% in the fourth quarter. Bison Wealth LLC now owns 3,327 shares of the company’s stock worth $657,000 after buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Jefferies Financial Group reissued a “buy” rating and set a $230.00 target price on shares of Zoetis in a report on Tuesday, December 19th. Barclays raised their target price on shares of Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average price target of $221.75.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $191.43, for a total value of $176,689.89. Following the sale, the executive vice president now owns 17,569 shares in the company, valued at $3,363,233.67. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 2,209 shares of company stock worth $408,453 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Zoetis Stock Up 2.2 %

ZTS stock opened at $153.02 on Wednesday. The firm has a market cap of $69.99 billion, a PE ratio of 30.18, a P/E/G ratio of 2.29 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The firm’s fifty day moving average is $178.25 and its 200 day moving average is $180.59. Zoetis Inc. has a one year low of $148.48 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last released its quarterly 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). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. On average, research analysts forecast that Zoetis Inc. will post 5.8 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.13%. Zoetis’s dividend payout ratio (DPR) 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.