Hartline Investment Corp Trims Position in Zoetis Inc. (NYSE:ZTS)

Hartline Investment Corp lowered its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 26.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,516 shares of the company's stock after selling 2,709 shares during the quarter. Hartline Investment Corp's holdings in Zoetis were worth $1,238,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ZTS. Rakuten Securities Inc. raised its stake in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC acquired a new stake in Zoetis in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis in the 4th quarter valued at approximately $44,000. Sound Income Strategies LLC increased its position in Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the period. Finally, Bfsg LLC increased its position in Zoetis by 614.6% during the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group decreased their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Stifel Nicolaus downgraded 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 report on Wednesday, June 18th. Finally, Piper Sandler lifted their price target 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. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of "Buy" and a consensus target price of $212.13.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $159.19 on Friday. The company has a market cap of $70.87 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.64 and a beta of 0.91. The business has a fifty day simple moving average of $161.05 and a 200-day simple moving average of $162.20. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $1.38 EPS. The company's revenue was up 1.4% on a year-over-year basis. Equities research analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is currently 35.91%.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

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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