Cary Street Partners Investment Advisory LLC Has $4.73 Million Stake in Zoetis Inc. (NYSE:ZTS)

Cary Street Partners Investment Advisory LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 74.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,946 shares of the company’s stock after selling 69,789 shares during the period. Zoetis makes up approximately 1.4% of Cary Street Partners Investment Advisory LLC’s investment portfolio, making the stock its 13th largest holding. Cary Street Partners Investment Advisory LLC’s holdings in Zoetis were worth $4,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC grew its holdings in shares of Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after buying an additional 89 shares during the period. Independence Bank of Kentucky increased its holdings in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after acquiring an additional 130 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of Zoetis in the third quarter worth about $35,000. First Financial Corp IN raised its position in shares of Zoetis by 57.2% during the fourth quarter. First Financial Corp IN now owns 217 shares of the company’s stock worth $43,000 after purchasing an additional 79 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Zoetis by 42.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 260 shares of the company’s stock valued at $45,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.1 %

Shares of NYSE:ZTS traded down $0.10 during midday trading on Tuesday, reaching $159.60. The company had a trading volume of 1,646,714 shares, compared to its average volume of 3,122,652. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The stock has a market cap of $72.99 billion, a PE ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.85. 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 business’s 50 day moving average price is $171.21 and its 200 day moving average price is $179.23.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts forecast that Zoetis Inc. will post 5.79 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.08%. Zoetis’s dividend payout ratio is presently 34.12%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZTS. Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Barclays dropped their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus lowered their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com downgraded Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price objective on 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.com, the company presently has a consensus rating of “Buy” and an average target price of $216.13.

Insider Activity

In other news, EVP Roxanne Lagano sold 363 shares of the firm’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 sale, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 2,209 shares of company stock valued at $371,293. 0.16% of the stock is owned by company insiders.

Zoetis 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.