Rossmore Private Capital Sells 1,780 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• Rossmore Private Capital has reduced its holdings in Zoetis Inc. by 43.5%, selling 1,780 shares and now owning a total of 2,308 shares valued at approximately $380,000.
• Institutional investors hold a significant majority (92.80%) of Zoetis stock, with notable increases in positions from firms like Vanguard and Polen Capital Management.
• Zoetis reported earnings of $1.76 per share for the last quarter, exceeding analysts' expectations, along with a quarterly dividend announcement yielding a 1.3% return for investors.

Rossmore Private Capital trimmed its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 43.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,308 shares of the company's stock after selling 1,780 shares during the period. Rossmore Private Capital's holdings in Zoetis were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Zoetis by 0.5% during the first quarter. Vanguard Group Inc. now owns 41,556,164 shares of the company's stock valued at $6,842,222,000 after purchasing an additional 189,287 shares during the period. Polen Capital Management LLC lifted its position in shares of Zoetis by 17.6% during the first quarter. Polen Capital Management LLC now owns 8,796,847 shares of the company's stock worth $1,448,401,000 after acquiring an additional 1,313,653 shares in the last quarter. Northern Trust Corp lifted its position in shares of Zoetis by 13.3% during the fourth quarter. Northern Trust Corp now owns 6,426,394 shares of the company's stock worth $1,047,052,000 after acquiring an additional 755,893 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Zoetis by 2.2% during the first quarter. Goldman Sachs Group Inc. now owns 5,146,024 shares of the company's stock worth $847,293,000 after acquiring an additional 109,791 shares in the last quarter. Finally, Unisphere Establishment lifted its position in shares of Zoetis by 7.3% during the fourth quarter. Unisphere Establishment now owns 4,800,000 shares of the company's stock worth $782,064,000 after acquiring an additional 325,000 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and set a $215.00 target price (up previously from $210.00) on shares of Zoetis in a research report on Monday. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, UBS Group dropped their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

Zoetis Trading Up 0.5%

Shares of ZTS stock opened at $149.72 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The company has a market capitalization of $66.35 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. The business's fifty day moving average is $155.89 and its 200 day moving average is $159.50.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 earnings per share. On average, equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced 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 1.3%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is currently 34.42%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 652 shares of the 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 owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Zoetis Company 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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