Kentucky Retirement Systems Insurance Trust Fund Lowers Stock Position in Zoetis Inc. (NYSE:ZTS)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 25.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,135 shares of the company's stock after selling 4,572 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Zoetis were worth $2,163,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in shares of Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after buying an additional 166 shares in the last quarter. Navigoe LLC purchased a new position in shares of Zoetis in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Zoetis in the fourth quarter valued at about $44,000. Sound Income Strategies LLC lifted 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 in the last quarter. Finally, Bfsg LLC lifted 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 in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, the executive vice president now owns 15,129 shares of the company's stock, valued at approximately $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 can be accessed through this link. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZTS. Wall Street Zen raised 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 lowered their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. UBS Group lowered 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, Piper Sandler boosted their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $212.13.

Zoetis Price Performance

Zoetis stock opened at $157.26 on Monday. The company has a market cap of $70.01 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.61 and a beta of 0.94. The firm's fifty day moving average is $159.58 and its 200 day moving average is $163.23. 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 Inc. has a 52-week low of $139.70 and a 52-week high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. Zoetis's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Sell-side analysts forecast that Zoetis Inc. will post 6.07 EPS 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 given 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 1.27%. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

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.

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