Kirtland Hills Capital Management LLC Has $1.10 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• Kirtland Hills Capital Management LLC reduced its stake in Zoetis Inc. by 22.3%, holding 6,657 shares valued at approximately $1,096,000 after selling 1,911 shares in the first quarter.
• Several institutional investors, including Brighton Jones LLC and Arrowstreet Capital Limited Partnership, significantly increased their positions in Zoetis during Q4, with Arrowstreet boosting its stake by 1,269.3%.
• Analysis from various firms has led to mixed ratings on Zoetis' stock, with recent cuts from Leerink Partners downgrading it from a "strong-buy" to a "hold" and Piper Sandler raising their price target from $205.00 to $210.00.

Kirtland Hills Capital Management LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 22.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,657 shares of the company's stock after selling 1,911 shares during the quarter. Kirtland Hills Capital Management LLC's holdings in Zoetis were worth $1,096,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC increased its position in shares of Zoetis by 18.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock worth $68,000 after acquiring an additional 64 shares during the period. Lindbrook Capital LLC increased its holdings in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock worth $612,000 after purchasing an additional 65 shares during the period. Legacy Financial Advisors Inc. raised its position in Zoetis by 5.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after purchasing an additional 70 shares in the last quarter. Quotient Wealth Partners LLC raised its position in Zoetis by 2.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after purchasing an additional 72 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. boosted its stake in shares of Zoetis by 4.4% in the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after buying an additional 73 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Up 1.0%

NYSE:ZTS traded up $1.49 on Friday, hitting $147.28. 1,911,704 shares of the company's stock traded hands, compared to its average volume of 3,052,555. The company has a market cap of $65.57 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $158.82 and a 200-day moving average price of $160.58.

Zoetis (NYSE:ZTS - Get Free Report) last issued its 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. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business posted $1.38 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's payout ratio is 35.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus cut Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. UBS Group reduced their price target 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. Leerink Partners downgraded shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Piper Sandler increased their target price 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. Four equities research 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 company. According to data from MarketBeat.com, the stock currently has a consensus 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 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 owned 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company's stock.

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.