Zoetis Inc. (NYSE:ZTS) Position Trimmed by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp has reduced its holdings in Zoetis Inc. by 8.6%, now owning approximately 1.4 million shares, making it the firm's 25th largest holding.
• Zoetis has reported a quarterly earnings EPS of $1.76, surpassing analysts' expectations, with revenues of $2.46 billion reflecting a 4.2% year-over-year increase.
• The company has announced a quarterly dividend of $0.50 per share, representing a 1.4% yield, with the ex-dividend date set for July 18th.

King Luther Capital Management Corp decreased its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,420,032 shares of the company's stock after selling 134,358 shares during the period. Zoetis comprises about 1.1% of King Luther Capital Management Corp's portfolio, making the stock its 25th largest holding. King Luther Capital Management Corp owned approximately 0.32% of Zoetis worth $233,808,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC increased its stake in Zoetis by 18.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after purchasing an additional 64 shares during the last quarter. Lindbrook Capital LLC increased its stake in Zoetis by 1.8% during the first quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after purchasing an additional 65 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in Zoetis by 5.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after purchasing an additional 70 shares during the last quarter. Quotient Wealth Partners LLC increased its stake in Zoetis by 2.3% during the first quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after purchasing an additional 72 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. increased its stake in Zoetis by 4.4% during the first quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the transaction, the executive vice president owned 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Zoetis Trading Down 0.6%

NYSE:ZTS opened at $147.34 on Friday. The stock's 50 day moving average price is $156.71 and its 200 day moving average price is $159.76. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a market capitalization of $65.30 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.41 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 34.42%.

Analyst Ratings Changes

ZTS has been the subject of several recent research reports. Stifel Nicolaus lowered shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price target for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Piper Sandler upped 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. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, 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 research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Zoetis has an average rating of "Moderate Buy" and an average target price of $204.63.

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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