Chesley Taft & Associates LLC Decreases Holdings in Zoetis Inc. (NYSE:ZTS)

Chesley Taft & Associates LLC lessened its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,544 shares of the company's stock after selling 4,199 shares during the quarter. Chesley Taft & Associates LLC's holdings in Zoetis were worth $17,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Salvus Wealth Management LLC raised its holdings in shares of Zoetis by 25.2% during the 1st quarter. Salvus Wealth Management LLC now owns 3,977 shares of the company's stock valued at $655,000 after buying an additional 800 shares during the period. Thrive Wealth Management LLC lifted its stake in Zoetis by 27.9% during the first quarter. Thrive Wealth Management LLC now owns 6,647 shares of the company's stock worth $1,094,000 after purchasing an additional 1,450 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Zoetis by 75.9% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,546 shares of the company's stock valued at $1,901,000 after buying an additional 4,981 shares during the last quarter. Secure Asset Management LLC lifted its holdings in shares of Zoetis by 3.6% in the 1st quarter. Secure Asset Management LLC now owns 2,380 shares of the company's stock worth $392,000 after purchasing an additional 83 shares during the last quarter. Finally, Portside Wealth Group LLC increased its position in Zoetis by 22.7% in the first quarter. Portside Wealth Group LLC now owns 27,079 shares of the company's stock worth $4,412,000 after buying an additional 5,013 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the 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 completion of the transaction, the director now owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. This represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction 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 now directly owns 15,129 shares in the company, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,188 shares of company stock worth $367,289. Company insiders own 0.18% of the company's stock.

Zoetis Trading Up 0.9%

NYSE ZTS traded up $1.54 on Friday, reaching $170.15. The company had a trading volume of 1,505,404 shares, compared to its average volume of 2,537,768. The stock has a market cap of $75.75 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 2.78 and a beta of 0.94. The stock's 50 day moving average is $157.24 and its 200-day moving average is $164.41. 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 Inc. has a 52 week low of $139.70 and a 52 week high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating 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 firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The business's quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current 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 $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 is currently 35.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Piper Sandler lifted their target price on Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Barclays boosted their price objective on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, UBS Group cut their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $212.75.

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.