Citizens Financial Group Inc. RI Sells 2,463 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Citizens Financial Group Inc. RI reduced its holdings in Zoetis Inc. by 11.6%, selling 2,463 shares and owning a total of 18,849 shares valued at approximately $3.1 million.
• Zoetis reported earnings of $1.76 per share, exceeding analysts' expectations of $1.62, alongside a quarterly revenue of $2.46 billion, which was also above projections.
• The company announced a quarterly dividend of $0.50 per share, reflecting an annualized yield of 1.4%, with a payout ratio of 35.91%.

Citizens Financial Group Inc. RI lowered its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,849 shares of the company's stock after selling 2,463 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Zoetis were worth $3,103,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ZTS. Navigoe LLC bought a new position in Zoetis during the fourth quarter worth about $30,000. Cornerstone Planning Group LLC boosted its position in Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock worth $30,000 after purchasing an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after buying an additional 120 shares during the period. Sound Income Strategies LLC boosted its position in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC boosted its position in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares during the period. Institutional investors own 92.80% of the company's stock.

Zoetis Price Performance

NYSE:ZTS traded down $0.90 during mid-day trading on Friday, reaching $147.34. The stock had a trading volume of 2,062,093 shares, compared to its average volume of 3,804,772. The firm has a 50 day moving average price of $156.71 and a two-hundred day moving average price of $159.76. The stock has a market capitalization of $65.30 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.41 and a beta of 0.88. Zoetis Inc. has a one year low of $139.70 and a one year 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.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results 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 company had revenue of $2.46 billion during the quarter, compared to the consensus estimate 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. As a group, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 34.42%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm'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 transaction of $110,840.00. Following the transaction, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZTS has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Piper Sandler raised their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.