J. Safra Sarasin Holding AG Lowers Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• J. Safra Sarasin Holding AG has reduced its holdings in Zoetis Inc. by 23.8%, owning 222,144 shares worth approximately $36.6 million after selling 69,286 shares in Q1.
• Several institutional investors, including Bank of Nova Scotia and R Squared Ltd, have increased their stakes in Zoetis, with some reporting significant percentage boosts in their holdings during the same period.
• Zoetis has announced a quarterly dividend of $0.50 per share, set to be paid on September 3rd, representing an annualized yield of 1.4%.

J. Safra Sarasin Holding AG decreased its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 222,144 shares of the company's stock after selling 69,286 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Zoetis were worth $36,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Nova Scotia boosted its stake in shares of Zoetis by 143.0% in the first quarter. Bank of Nova Scotia now owns 180,690 shares of the company's stock valued at $29,749,000 after purchasing an additional 106,347 shares during the period. R Squared Ltd boosted its stake in shares of Zoetis by 64.5% in the first quarter. R Squared Ltd now owns 2,500 shares of the company's stock valued at $412,000 after purchasing an additional 980 shares during the period. Banco Santander S.A. boosted its stake in shares of Zoetis by 18.1% in the first quarter. Banco Santander S.A. now owns 19,741 shares of the company's stock valued at $3,250,000 after purchasing an additional 3,030 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Zoetis by 10.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 172,018 shares of the company's stock valued at $28,290,000 after purchasing an additional 15,683 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Zoetis by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 275,167 shares of the company's stock valued at $45,306,000 after purchasing an additional 10,294 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Zoetis Stock Up 1.1%

ZTS stock opened at $147.40 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company's 50 day moving average is $158.51 and its two-hundred day moving average is $160.46. The stock has a market cap of $65.62 billion, a P/E ratio of 26.46, a PEG ratio of 2.42 and a beta of 0.88.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the company earned $1.38 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. 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. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Zoetis 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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