Knights of Columbus Asset Advisors LLC Sells 8,562 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Knights of Columbus Asset Advisors LLC significantly reduced its stake in Zoetis Inc. by 85.7%, owning just 1,426 shares after selling 8,562 shares in the first quarter.
• Several investors have recently altered their positions in Zoetis, with notable increases in holdings from firms like Bfsg LLC, which boosted its stake by 614.6%.
• Despite the recent changes in ownership, Zoetis is receiving mixed assessments from analysts, with some lowering price targets while others maintain or increase their ratings.

Knights of Columbus Asset Advisors LLC decreased its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 85.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,426 shares of the company's stock after selling 8,562 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Zoetis were worth $235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Navigoe LLC purchased a new position in shares of Zoetis during the fourth quarter valued at approximately $30,000. Cornerstone Planning Group LLC lifted its position in shares of 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after acquiring an additional 120 shares in the last quarter. Sound Income Strategies LLC raised its holdings in 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 raised its holdings in shares of Zoetis by 614.6% during the first 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.

Zoetis Stock Down 1.0%

NYSE ZTS traded down $1.47 during trading on Monday, hitting $150.65. The stock had a trading volume of 2,261,077 shares, compared to its average volume of 3,046,324. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company has a market capitalization of $67.07 billion, a PE ratio of 27.05, a P/E/G ratio of 2.52 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The company's 50-day moving average price is $159.91 and its two-hundred day moving average price is $160.96.

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

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. UBS Group dropped their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday, June 18th. Finally, Piper Sandler lifted 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. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zoetis 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 company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president directly owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

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.