Bowen Hanes & Co. Inc. Has $5 Million Stake in Zoetis Inc. $ZTS

Key Points

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Bowen Hanes & Co. Inc. lessened its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,375 shares of the company's stock after selling 1,756 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Zoetis were worth $5,001,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ZTS. Vanguard Group Inc. raised its holdings in shares of Zoetis by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock worth $6,842,222,000 after buying an additional 189,287 shares in the last quarter. Polen Capital Management LLC increased its position in shares of Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock valued at $1,448,401,000 after acquiring an additional 1,313,653 shares during the last quarter. Northern Trust Corp increased its position in Zoetis by 1.2% in the first quarter. Northern Trust Corp now owns 6,504,902 shares of the company's stock worth $1,071,032,000 after buying an additional 78,508 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Zoetis by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock valued at $847,293,000 after purchasing an additional 109,791 shares in the last quarter. Finally, Unisphere Establishment boosted its stake in Zoetis by 7.3% during the fourth quarter. Unisphere Establishment now owns 4,800,000 shares of the company's stock valued at $782,064,000 after buying an additional 325,000 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Insider Activity 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 value of $110,840.00. Following the completion of the sale, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Zoetis Stock Down 1.2%

Shares of NYSE:ZTS opened at $152.28 on Tuesday. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The company's fifty day moving average is $154.69 and its 200-day moving average is $158.90. The company has a market capitalization of $67.49 billion, a PE ratio of 26.21, a P/E/G ratio of 2.47 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the business posted $1.56 EPS. Zoetis's revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is presently 34.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group cut their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Piper Sandler increased their price objective on shares of Zoetis from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

About Zoetis

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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