Alta Capital Management LLC Sells 7,297 Shares of Zoetis Inc. (NYSE:ZTS)

Alta Capital Management LLC lowered its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,494 shares of the company's stock after selling 7,297 shares during the period. Zoetis accounts for approximately 1.7% of Alta Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Alta Capital Management LLC's holdings in Zoetis were worth $26,755,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rakuten Securities Inc. increased its stake in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the period. Navigoe LLC bought a new position in shares of Zoetis during the fourth quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis during the fourth quarter worth approximately $44,000. Sound Income Strategies LLC increased its stake in shares of Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the period. Finally, Bfsg LLC grew its position in Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after buying an additional 252 shares in the last quarter. Institutional investors own 92.80% of the company's stock.

Zoetis Trading Down 4.0%

Shares of ZTS stock opened at $155.21 on Friday. The stock's fifty day moving average price is $159.42 and its two-hundred day moving average price is $163.53. The company has a market cap of $69.10 billion, a PE ratio of 27.87, a P/E/G ratio of 2.57 and a beta of 0.94. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. Equities analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president now owns 15,129 shares of the company's stock, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZTS. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Piper Sandler increased their price target on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. UBS Group reduced their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the stock from $165.00 to $160.00 in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $212.13.

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.

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