PNC Financial Services Group Inc. Has $26.84 Million Stock Position in Zoetis Inc. $ZTS

Key Points

• PNC Financial Services Group cut its Zoetis stake by 11.1% in the fourth quarter, but still held 213,281 shares valued at about $26.84 million.
• Zoetis reported mixed quarterly results, missing earnings and revenue estimates, even as revenue rose 2.9% year over year. The stock also has a Hold consensus rating, with analysts’ average target price at $133.92.
• The company declared a quarterly dividend of $0.53 per share, and two directors recently bought shares, signaling insider confidence despite recent volatility.

PNC Financial Services Group Inc. trimmed its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,281 shares of the company's stock after selling 26,630 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Zoetis were worth $26,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ZTS. Brighton Jones LLC lifted its stake in shares of Zoetis by 180.4% in the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after buying an additional 2,978 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Zoetis by 6.2% in the first quarter. Empowered Funds LLC now owns 11,293 shares of the company's stock worth $1,859,000 after buying an additional 657 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Zoetis by 17.2% in the first quarter. Intech Investment Management LLC now owns 8,347 shares of the company's stock worth $1,374,000 after buying an additional 1,224 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Zoetis by 73.8% in the second quarter. Sivia Capital Partners LLC now owns 3,348 shares of the company's stock worth $522,000 after buying an additional 1,422 shares during the last quarter. Finally, Glenview Trust co lifted its stake in shares of Zoetis by 11.8% in the second quarter. Glenview Trust co now owns 4,780 shares of the company's stock worth $745,000 after buying an additional 506 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZTS shares. Weiss Ratings cut shares of Zoetis from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 27th. Leerink Partners reaffirmed a "market perform" rating on shares of Zoetis in a research report on Tuesday, March 10th. Bank of America boosted their target price on shares of Zoetis from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Wall Street Zen lowered shares of Zoetis from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, UBS Group dropped their target price on shares of Zoetis from $130.00 to $99.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Zoetis presently has an average rating of "Hold" and a consensus target price of $133.92.

Zoetis Trading Up 1.5%

Shares of ZTS stock opened at $81.26 on Friday. Zoetis Inc. has a 1 year low of $72.38 and a 1 year high of $172.23. The firm's fifty day simple moving average is $108.11 and its 200 day simple moving average is $118.65. The firm has a market capitalization of $34.06 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.31 and a beta of 0.87. The company has a current ratio of 3.15, a quick ratio of 1.91 and a debt-to-equity ratio of 2.80.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.07). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 66.85% and a net margin of 27.80%.The company's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.48 EPS. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. As a group, sell-side analysts predict that Zoetis Inc. will post 6.88 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, July 20th. Zoetis's payout ratio is 35.16%.

Insider Buying and Selling at Zoetis

In other Zoetis news, Director Frank A. Damelio purchased 6,650 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $75.39 per share, with a total value of $501,343.50. Following the acquisition, the director directly owned 21,458 shares of the company's stock, valued at $1,617,718.62. This represents a 44.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael B. Mccallister purchased 3,000 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $77.76 per share, for a total transaction of $233,280.00. Following the acquisition, the director directly owned 24,524 shares in the company, valued at approximately $1,906,986.24. This trade represents a 13.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 11,650 shares of company stock valued at $886,384 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

About Zoetis

Zoetis Inc NYSE: ZTS is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company's offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.

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