Zoetis Inc. (NYSE:ZTS) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC raised its stake in Zoetis Inc. (NYSE:ZTS) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,071 shares of the company’s stock after acquiring an additional 571 shares during the quarter. SlateStone Wealth LLC’s holdings in Zoetis were worth $5,146,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ZTS. International Assets Investment Management LLC increased its position in shares of Zoetis by 25.1% in the third quarter. International Assets Investment Management LLC now owns 1,726 shares of the company’s stock valued at $302,000 after buying an additional 346 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of Zoetis in the 3rd quarter valued at $221,000. Rothschild Investment LLC IL acquired a new position in Zoetis during the 3rd quarter worth about $380,000. First Affirmative Financial Network acquired a new position in Zoetis during the 3rd quarter worth about $238,000. Finally, McBroom & Associates LLC increased its holdings in Zoetis by 14.6% during the 3rd quarter. McBroom & Associates LLC now owns 31,354 shares of the company’s stock worth $5,455,000 after purchasing an additional 4,000 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Roxanne Lagano sold 363 shares of Zoetis stock in a transaction 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 owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 2,209 shares of company stock valued at $371,293 over the last quarter. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ZTS. The Goldman Sachs Group increased 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. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Barclays reduced their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Finally, Stifel Nicolaus reduced their price target on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $218.00.

Zoetis Stock Performance

NYSE ZTS opened at $149.59 on Wednesday. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a market capitalization of $68.42 billion, a P/E ratio of 29.50, a PEG ratio of 2.22 and a beta of 0.85. The business has a 50 day moving average price of $173.78 and a 200 day moving average price of $179.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00.

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

Zoetis Dividend Announcement

The firm also recently disclosed 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. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio is currently 34.12%.

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.