Tritonpoint Wealth LLC Sells 3,053 Shares of Zoetis Inc. (NYSE:ZTS)

Tritonpoint Wealth LLC lowered its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,936 shares of the company's stock after selling 3,053 shares during the period. Tritonpoint Wealth LLC's holdings in Zoetis were worth $4,929,000 as of its most recent SEC filing.

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

Zoetis Trading Down 2.7%

Shares of ZTS traded down $4.55 during trading hours on Friday, hitting $164.27. 2,973,481 shares of the stock traded hands, compared to its average volume of 2,551,305. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The business has a fifty day moving average of $158.67 and a 200-day moving average of $164.01. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $73.13 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

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. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Analysts expect that Zoetis Inc. will post 6.07 EPS for the current 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is presently 35.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZTS. Piper Sandler boosted their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Barclays boosted their price target on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. UBS Group lowered their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $212.75.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

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.