Carnegie Lake Advisors LLC Has $1.39 Million Stake in Zoetis Inc. (NYSE:ZTS)

Carnegie Lake Advisors LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 84.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,424 shares of the company's stock after acquiring an additional 3,850 shares during the period. Carnegie Lake Advisors LLC's holdings in Zoetis were worth $1,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after purchasing an additional 2,978 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Zoetis by 5.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company's stock worth $68,354,000 after purchasing an additional 21,470 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Zoetis by 61.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,053 shares of the company's stock worth $497,000 after purchasing an additional 1,157 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Zoetis by 12.6% during the 4th quarter. Advisors Asset Management Inc. now owns 19,733 shares of the company's stock worth $3,215,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of Zoetis by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 215,508 shares of the company's stock worth $35,113,000 after purchasing an additional 2,815 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Down 0.9%

Zoetis stock traded down $1.42 during trading on Friday, reaching $148.61. 4,723,160 shares of the company's stock were exchanged, compared to its average volume of 2,622,790. The company's 50-day moving average is $160.77 and its two-hundred day moving average is $161.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The firm has a market cap of $66.16 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.46 and a beta of 0.91.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 EPS. On average, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.35%. Zoetis's dividend payout ratio (DPR) is 35.91%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZTS shares. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and cut their price target for the company from $180.00 to $155.00 in a report on Thursday. UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday. Piper Sandler boosted their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis has an average rating of "Moderate Buy" and a consensus price target of $204.63.

Insiders Place Their Bets

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 shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

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.