Bank Pictet & Cie Europe AG trimmed its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 397,899 shares of the company's stock after selling 21,631 shares during the period. Zoetis comprises about 1.6% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 17th largest holding. Bank Pictet & Cie Europe AG owned about 0.09% of Zoetis worth $65,514,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. boosted its position 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 buying an additional 166 shares during the period. Navigoe LLC acquired a new position in shares of Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis during the fourth quarter worth about $44,000. Sound Income Strategies LLC raised its holdings in 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 acquiring an additional 164 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Zoetis during the fourth quarter worth about $59,000. 92.80% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZTS has been the topic of several analyst reports. Piper Sandler upped their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Stifel Nicolaus dropped their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Finally, UBS Group dropped their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $212.75.
Read Our Latest Report on Zoetis
Zoetis Stock Performance
NYSE:ZTS traded up $0.03 on Monday, hitting $164.36. The company's stock had a trading volume of 2,472,872 shares, compared to its average volume of 2,552,294. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $158.67 and a two-hundred day moving average of $163.83. The firm has a market capitalization of $73.18 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33.
Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. Research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.
Zoetis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Zoetis's dividend payout ratio (DPR) is currently 35.91%.
Insider Transactions at Zoetis
In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.
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.
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