West Coast Financial LLC Has $11.23 Million Position in Zoetis Inc. (NYSE:ZTS)

West Coast Financial LLC cut its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,198 shares of the company's stock after selling 2,395 shares during the period. Zoetis accounts for about 1.3% of West Coast Financial LLC's investment portfolio, making the stock its 17th largest position. West Coast Financial LLC's holdings in Zoetis were worth $11,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Navigoe LLC bought a new position in shares of Zoetis in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis in the 4th quarter valued at approximately $44,000. Finally, Asset Planning Inc bought a new position in shares of Zoetis in the 4th quarter valued at approximately $58,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of NYSE:ZTS remained flat at $168.59 during trading on Thursday. The stock had a trading volume of 2,773,945 shares, compared to its average volume of 2,541,895. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The stock has a market capitalization of $75.06 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company has a fifty day moving average price of $157.16 and a two-hundred day moving average price of $164.46. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. 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 earned $1.38 EPS. Zoetis's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders 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 1.19%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ZTS. Piper Sandler raised their price objective on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Barclays raised their target price on Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Morgan Stanley lowered their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Stifel Nicolaus lowered their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, UBS Group lowered their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $212.75.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares in the company, valued at $2,682,770. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,188 shares of company stock worth $367,289 over the last three months. Company insiders own 0.18% of the company's stock.

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.