Capital Planning Advisors LLC Reduces Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• Capital Planning Advisors LLC reduced its holdings in Zoetis Inc. by 21.5% during the first quarter, now owning 9,335 shares valued at approximately $1.54 million.
• In the same quarter, other institutional investors such as Portside Wealth Group LLC and Tandem Investment Advisors Inc. increased their stakes in Zoetis by 24.7% and 100.3%, respectively.
• Zoetis reported earnings of $1.76 per share for the last quarter, exceeding analysts’ expectations of $1.62, with revenues of $2.46 billion, up 4.2% year-over-year.

Capital Planning Advisors LLC cut its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,335 shares of the company's stock after selling 2,552 shares during the period. Capital Planning Advisors LLC's holdings in Zoetis were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Navigoe LLC acquired a new stake in Zoetis during the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC lifted its stake in Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Zoetis by 87.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after purchasing an additional 120 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Zoetis by 141.4% in the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after purchasing an additional 164 shares during the period. Finally, Bfsg LLC lifted its stake in shares of Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after purchasing an additional 252 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Price Performance

Shares of Zoetis stock traded up $0.70 during trading hours on Tuesday, reaching $149.72. 2,578,354 shares of the company's stock were exchanged, compared to its average volume of 3,848,447. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a market capitalization of $66.35 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. The business has a fifty day moving average of $155.89 and a two-hundred day moving average of $159.50. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

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

Zoetis Announces Dividend

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

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Leerink Partners cut 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 note on Thursday, July 17th. UBS Group decreased their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and issued a $215.00 target price (up from $210.00) on shares of Zoetis in a research note on Monday. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and decreased their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.25.

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.