US Bancorp DE Sells 33,175 Shares of Zoetis Inc. (NYSE:ZTS)

Key Points

• US Bancorp DE reduced its holdings in Zoetis Inc. by 24.1%, owning 104,202 shares worth approximately $17.16 million after selling 33,175 shares in the first quarter.
• Zoetis recently reported earnings per share of $1.48, exceeding analysts' expectations, with quarterly revenue of $2.22 billion, reflecting a 1.4% year-over-year increase.
• The company announced a $0.50 per share quarterly dividend, with an ex-dividend date of July 18, and an annualized dividend yield of 1.4%.

US Bancorp DE lowered its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,202 shares of the company's stock after selling 33,175 shares during the quarter. US Bancorp DE's holdings in Zoetis were worth $17,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Coppell Advisory Solutions LLC boosted its position in Zoetis by 18.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock worth $68,000 after purchasing an additional 64 shares during the last quarter. Lindbrook Capital LLC grew its holdings 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 period. Legacy Financial Advisors Inc. grew its holdings 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 period. Quotient Wealth Partners LLC grew its holdings 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 period. Finally, Broadway Wealth Solutions Inc. grew its holdings 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 period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company's 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 sale, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This 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 this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Price Performance

Shares of ZTS traded up $4.93 during mid-day trading on Monday, hitting $152.31. 6,269,265 shares of the stock were exchanged, compared to its average volume of 3,305,504. The company has a market cap of $67.81 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. The firm has a 50-day moving average of $158.29 and a two-hundred day moving average of $160.26. 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 (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.08. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the firm earned $1.38 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts predict that Zoetis Inc. will post 6.07 earnings per share 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 given a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Zoetis's dividend payout ratio is 35.91%.

Analyst Ratings Changes

Several research firms have issued reports on ZTS. 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. 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. Stifel Nicolaus downgraded 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. Leerink Partners downgraded Zoetis from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zoetis has a consensus rating of "Moderate Buy" and an average price target of $204.63.

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.