Carnegie Investment Counsel Boosts Stock Holdings in Zoetis Inc. $ZTS

Key Points

• Carnegie Investment Counsel increased its Zoetis stake by 9.6% in the first quarter, bringing its holdings to 333,786 shares worth about $38.2 million.
• Several other institutional investors also adjusted positions, and overall institutional ownership remains high at 92.8%. Notably, Zoetis executives/directors bought shares recently, with insiders purchasing 11,650 shares over the last 90 days.
• Zoetis reported mixed fundamentals: Q1 EPS of $1.53 missed estimates, revenue came in at $2.26 billion, and the stock traded around $75.49 after a modest 0.5% rise. Analysts currently rate the stock a consensus “Hold” with an average price target of $123.46, while the company also declared a quarterly dividend of $0.53 per share.

Carnegie Investment Counsel grew its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 333,786 shares of the company's stock after buying an additional 29,297 shares during the quarter. Carnegie Investment Counsel owned 0.08% of Zoetis worth $38,199,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Zoetis by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 47,780,974 shares of the company's stock valued at $6,011,802,000 after purchasing an additional 5,474,210 shares during the last quarter. J. Stern & Co. LLP raised its holdings in shares of Zoetis by 12,431.2% in the fourth quarter. J. Stern & Co. LLP now owns 24,069,492 shares of the company's stock valued at $3,028,423,000 after buying an additional 23,877,416 shares during the last quarter. State Street Corp increased its position in Zoetis by 0.8% in the 4th quarter. State Street Corp now owns 19,796,891 shares of the company's stock valued at $2,490,845,000 after acquiring an additional 149,382 shares during the period. Geode Capital Management LLC lifted its position in Zoetis by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 11,327,679 shares of the company's stock worth $1,420,294,000 after acquiring an additional 189,235 shares during the period. Finally, Norges Bank acquired a new position in shares of Zoetis in the fourth quarter valued at approximately $734,425,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Insider Activity

In other Zoetis news, Director Michael B. Mccallister purchased 3,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $77.76 per share, for a total transaction of $233,280.00. Following the completion of the purchase, the director owned 24,524 shares in the company, valued at $1,906,986.24. The trade was a 13.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank A. Damelio bought 6,650 shares of Zoetis stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $75.39 per share, with a total value of $501,343.50. Following the completion of the purchase, the director owned 21,458 shares in the company, valued at approximately $1,617,718.62. The trade was a 44.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 11,650 shares of company stock worth $886,384 over the last ninety days. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZTS shares. JPMorgan Chase & Co. reduced their target price on shares of Zoetis from $190.00 to $130.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Weiss Ratings cut Zoetis from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, June 12th. HSBC reduced their price target on shares of Zoetis from $140.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Stifel Nicolaus dropped their price objective on Zoetis from $95.00 to $85.00 and set a "hold" rating for the company in a research report on Friday, June 26th. Finally, Citigroup decreased their target price on shares of Zoetis from $145.00 to $112.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $123.46.

Zoetis Stock Up 0.5%

Shares of ZTS traded up $0.41 during midday trading on Friday, reaching $75.49. 5,157,373 shares of the company were exchanged, compared to its average volume of 6,410,874. The stock has a 50-day moving average price of $79.96 and a 200-day moving average price of $107.76. The company has a market cap of $31.65 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.18 and a beta of 0.75. Zoetis Inc. has a 1-year low of $71.47 and a 1-year high of $160.48. The company has a current ratio of 3.15, a quick ratio of 1.91 and a debt-to-equity ratio of 2.80.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.07). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 27.80% and a return on equity of 66.85%. Zoetis's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. Research analysts expect that Zoetis Inc. will post 6.88 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.8%. Zoetis's payout ratio is currently 35.16%.

Zoetis News Roundup

Here are the key news stories impacting Zoetis this week:

• Positive Sentiment: No clearly positive company-specific catalysts were reported in the latest batch of articles.
• Neutral Sentiment: Multiple law firms, including Rosen, Glancy Prongay, Bragar Eagel & Squire, The Gross Law Firm, Kessler Topaz, Schall, Howard G. Smith, and Bernstein Liebhard, are urging investors who bought ZTS shares during the class period to contact them before the July 27 lead plaintiff deadline.
• Negative Sentiment: A class action lawsuit has been filed against Zoetis and certain officers, with allegations of material misstatements and/or omissions tied to product adoption, which may increase legal costs and pressure the stock. Article Title

Zoetis Company Profile

Zoetis Inc NYSE: ZTS is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company's offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

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