Westwood Holdings Group Inc. Reduces Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Zoetis Inc. by 20.7% during the first quarter, selling 35,241 shares for a total holding of 134,864 shares worth approximately $22.2 million.
• Several institutional investors have also modified their holdings in Zoetis, with notable increases including Cornerstone Planning Group LLC, which grew its stake by 79.3%.
• Zoetis Inc. reported a 4.2% year-over-year revenue increase in its latest earnings, with an earnings per share of $1.76, surpassing analysts' estimates.

Westwood Holdings Group Inc. lessened its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 20.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,864 shares of the company's stock after selling 35,241 shares during the period. Westwood Holdings Group Inc.'s holdings in Zoetis were worth $22,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ZTS. Navigoe LLC purchased a new position in shares of Zoetis during the 4th quarter worth approximately $30,000. Cornerstone Planning Group LLC grew its holdings in Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after buying an additional 120 shares in the last quarter. Sound Income Strategies LLC increased its position in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after buying an additional 164 shares in the last quarter. Finally, Bfsg LLC raised its holdings in shares of Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Activity

In related news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 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 SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. Leerink Partnrs cut Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Piper Sandler boosted their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Stifel Nicolaus downgraded Zoetis from a "buy" rating to a "hold" rating and cut their price target for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $204.63.

Zoetis Stock Down 3.8%

Shares of ZTS opened at $146.00 on Wednesday. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The company's fifty day moving average is $157.89 and its two-hundred day moving average is $160.16. The firm has a market cap of $65.00 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.88. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $1.56 EPS. The business's quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders 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 1.4%. Zoetis's payout ratio is presently 35.91%.

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.

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