Zoetis Inc. (NYSE:ZTS) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 29.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,016 shares of the company's stock after selling 3,797 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Zoetis were worth $1,484,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZTS. Rakuten Securities Inc. increased its position in Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Navigoe LLC acquired a new stake in Zoetis in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Zoetis in the fourth quarter valued at approximately $44,000. Sound Income Strategies LLC grew its position in Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC grew its position in Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds 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 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 now directly owns 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 through this hyperlink. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Zoetis from a "buy" rating to a "hold" rating and lowered their price objective for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Piper Sandler increased 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. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Finally, UBS Group lowered their price objective 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. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Zoetis has a consensus rating of "Buy" and a consensus target price of $212.13.

Zoetis Stock Performance

Zoetis stock opened at $157.41 on Thursday. The stock has a market cap of $70.08 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.62 and a beta of 0.94. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average of $160.10 and a 200-day moving average of $163.02. 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. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. On average, analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is currently 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.

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