Cary Street Partners Financial LLC Acquires 2,290 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Cary Street Partners Financial LLC increased its stake in Zoetis Inc. by 2.4%, owning 98,617 shares worth approximately $16.24 million as of the end of the first quarter.
• The company recently disclosed a quarterly dividend of $0.50 per share, which translates to a 1.3% yield, with the dividend set to be paid on September 3rd.
• Recent analyst ratings indicate a consensus of "Moderate Buy" for Zoetis, with a price target of approximately $204.63, reflecting a range of opinions from "hold" to "overweight."

Cary Street Partners Financial LLC lifted its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,617 shares of the company's stock after buying an additional 2,290 shares during the period. Cary Street Partners Financial LLC's holdings in Zoetis were worth $16,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZTS. Coppell Advisory Solutions LLC grew its position in shares of Zoetis by 18.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after purchasing an additional 64 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Zoetis by 1.8% during the first quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock worth $612,000 after acquiring an additional 65 shares during the period. Legacy Financial Advisors Inc. lifted its position in Zoetis by 5.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after acquiring an additional 70 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Zoetis by 2.3% during the first quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock worth $521,000 after buying an additional 72 shares during the period. Finally, Broadway Wealth Solutions Inc. lifted its stake in Zoetis by 4.4% in the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Price Performance

Shares of ZTS traded up $1.61 during mid-day trading on Thursday, reaching $148.11. The company had a trading volume of 3,759,304 shares, compared to its average volume of 3,789,991. The company's 50 day simple moving average is $157.14 and its 200 day simple moving average is $159.94. The company has a market capitalization of $65.75 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 2.41 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. Zoetis's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. Analysts expect that Zoetis Inc. will post 6.07 EPS for the current 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 34.42%.

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the company's 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 sale, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZTS shares. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler upped their price objective on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. UBS Group dropped their target price 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. Finally, Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $204.63.

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.