XXEC Inc. Trims Holdings in Zoetis Inc. (NYSE:ZTS)

XXEC Inc. cut its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 91.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,351 shares of the company's stock after selling 26,456 shares during the quarter. Zoetis makes up approximately 0.3% of XXEC Inc.'s investment portfolio, making the stock its 21st largest holding. XXEC Inc.'s holdings in Zoetis were worth $387,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Zoetis by 10.6% during the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock worth $569,834,000 after acquiring an additional 279,092 shares during the period. Brighton Jones LLC increased its position in Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after acquiring an additional 2,978 shares during the period. OLD National Bancorp IN increased its position in Zoetis by 31.3% during the fourth quarter. OLD National Bancorp IN now owns 1,552 shares of the company's stock worth $253,000 after acquiring an additional 370 shares during the period. Caprock Group LLC increased its position in Zoetis by 6.1% during the fourth quarter. Caprock Group LLC now owns 12,714 shares of the company's stock worth $2,072,000 after acquiring an additional 730 shares during the period. Finally, Austin Private Wealth LLC increased its position in Zoetis by 28.8% during the fourth quarter. Austin Private Wealth LLC now owns 1,627 shares of the company's stock worth $265,000 after acquiring an additional 364 shares during the period. 92.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ZTS. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Piper Sandler raised their price target 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. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley reduced their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Barclays increased their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $212.75.

Insiders Place Their Bets

In related news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now owns 11,245 shares in the company, valued at $1,868,244.30. The trade was a 9.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president now directly owns 15,129 shares of the company's stock, valued at $2,571,930. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,188 shares of company stock worth $367,289. 0.18% of the stock is currently owned by corporate insiders.

Zoetis Stock Up 0.3%

ZTS traded up $0.49 during mid-day trading on Thursday, reaching $169.08. 1,547,140 shares of the stock were exchanged, compared to its average volume of 2,534,715. The stock has a market capitalization of $75.28 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The company has a 50 day moving average price of $157.16 and a two-hundred day moving average price of $164.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.18%. Zoetis's dividend payout ratio (DPR) is presently 35.91%.

Zoetis 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.