Segment Wealth Management LLC Decreases Stock Position in Zoetis Inc. (NYSE:ZTS)

Segment Wealth Management LLC trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,648 shares of the company's stock after selling 4,672 shares during the quarter. Segment Wealth Management LLC's holdings in Zoetis were worth $11,632,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Zoetis in the fourth quarter valued at approximately $824,321,000. Wellington Management Group LLP increased its stake in shares of Zoetis by 78.5% during the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after acquiring an additional 3,059,255 shares during the period. Sarasin & Partners LLP bought a new stake in shares of Zoetis in the 1st quarter worth $339,111,000. GAMMA Investing LLC lifted its holdings in Zoetis by 14,731.3% in the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock valued at $289,666,000 after acquiring an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Zoetis during the fourth quarter valued at approximately $196,651,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $155.21 on Friday. 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 stock has a market capitalization of $69.10 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.57 and a beta of 0.94. The business has a 50-day moving average price of $159.42 and a two-hundred day moving average price of $163.53.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping 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 company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Zoetis's revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Zoetis's payout ratio is 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now directly owns 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZTS. UBS Group lowered their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. 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 report on Monday, May 12th. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $165.00 to $160.00 in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Zoetis currently has an average rating of "Buy" and an average price target of $212.13.

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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