Summitry LLC Invests $21.25 Million in Zoetis Inc. $ZTS

Key Points

• Summitry LLC purchased 179,807 Zoetis shares worth approximately $21.25 million during the first quarter. Institutional investors and hedge funds own 92.8% of the company.
• Analysts have broadly reduced their price targets, resulting in a consensus “Hold” rating and an average target of $118.33. Zoetis shares were trading near $77.37, close to their 12-month low.
• Zoetis missed quarterly earnings and revenue estimates, reporting $1.53 in EPS and $2.26 billion in revenue, while still posting 2.9% year-over-year revenue growth. The company announced a quarterly dividend of $0.53 per share, representing a 2.7% yield.

Summitry LLC bought a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 179,807 shares of the company's stock, valued at approximately $21,255,000.

Several other large investors have also made changes to their positions in ZTS. Prosperity Bancshares Inc acquired a new position in shares of Zoetis during the fourth quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Zoetis during the 1st quarter worth $28,000. Lodestone Wealth Management LLC purchased a new position in Zoetis in the 4th quarter worth approximately $30,000. Elyxium Wealth LLC purchased a new stake in Zoetis in the 4th quarter valued at $32,000. Finally, Root Financial Partners LLC raised its stake in Zoetis by 66.5% during the first quarter. Root Financial Partners LLC now owns 258 shares of the company's stock worth $30,000 after purchasing an additional 103 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZTS has been the subject of a number of research analyst reports. TD Cowen lowered their price target on Zoetis from $150.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. JPMorgan Chase & Co. cut their target price on shares of Zoetis from $190.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. HSBC lowered their price objective on Zoetis from $140.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Zoetis from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, June 12th. Finally, Stifel Nicolaus cut their target price on shares of Zoetis from $95.00 to $85.00 and set a "hold" rating on the stock in a report on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $118.33.

Zoetis Trading Up 1.8%

Shares of Zoetis stock opened at $77.37 on Friday. The company has a current ratio of 3.15, a quick ratio of 1.91 and a debt-to-equity ratio of 2.80. The stock has a market cap of $32.44 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75. Zoetis Inc. has a 12-month low of $71.47 and a 12-month high of $160.48. The company has a 50-day moving average of $77.05 and a two-hundred day moving average of $102.49.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.07). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 66.85% and a net margin of 27.80%.The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. On average, research analysts anticipate that Zoetis Inc. will post 6.87 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.7%. Zoetis's payout ratio is presently 35.16%.

Insider Activity at Zoetis

In other Zoetis news, Director Paul Bisaro purchased 2,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $75.88 per share, for a total transaction of $151,760.00. Following the acquisition, the director directly owned 27,862 shares of the company's stock, valued at $2,114,168.56. This represents a 7.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael B. Mccallister purchased 3,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $77.76 per share, for a total transaction of $233,280.00. Following the purchase, the director owned 24,524 shares of the company's stock, valued at $1,906,986.24. This trade represents a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 11,650 shares of company stock valued at $886,384. Company insiders own 0.22% of the company's stock.

Zoetis Company Profile

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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