Central Bank & Trust Co. Sells 8,009 Shares of Zoetis Inc. (NYSE:ZTS)

Central Bank & Trust Co. trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 47.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,835 shares of the company's stock after selling 8,009 shares during the quarter. Central Bank & Trust Co.'s holdings in Zoetis were worth $1,455,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bennett Selby Investments LP lifted its holdings in Zoetis by 105.9% during the 1st quarter. Bennett Selby Investments LP now owns 10,975 shares of the company's stock valued at $1,807,000 after purchasing an additional 5,646 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Zoetis by 28.4% during the first quarter. OLD National Bancorp IN now owns 1,993 shares of the company's stock valued at $328,000 after purchasing an additional 441 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Zoetis by 647,600.0% in the first quarter. SOA Wealth Advisors LLC. now owns 6,477 shares of the company's stock valued at $1,066,000 after acquiring an additional 6,476 shares during the last quarter. Broadway Wealth Solutions Inc. boosted its holdings in Zoetis by 4.4% in the first 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 during the last quarter. Finally, Kennebec Savings Bank boosted its holdings in shares of Zoetis by 4.4% during the 1st quarter. Kennebec Savings Bank now owns 2,640 shares of the company's stock worth $435,000 after buying an additional 112 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at approximately $1,868,244.30. This represents a 9.71% 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. Also, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,188 shares of company stock worth $367,289. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZTS. UBS Group decreased their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley decreased their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Piper Sandler boosted 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. Finally, Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Zoetis currently has an average rating of "Buy" and an average price target of $212.75.

Zoetis Stock Performance

NYSE:ZTS opened at $170.15 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The firm has a 50-day moving average of $157.41 and a two-hundred day moving average of $164.29. The stock has a market cap of $75.75 billion, a P/E ratio of 31.11, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. Zoetis's payout ratio is 35.91%.

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.

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