Grove Bank & Trust increased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 27.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,395 shares of the company's stock after purchasing an additional 4,330 shares during the quarter. Grove Bank & Trust's holdings in Zoetis were worth $3,358,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ZTS. Rakuten Securities Inc. lifted its stake in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC bought a new position in Zoetis during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp bought a new position in Zoetis during the fourth quarter worth $44,000. Sound Income Strategies LLC lifted its stake in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Zoetis in the fourth quarter valued at $59,000. 92.80% of the stock is currently owned by institutional investors.
Zoetis Price Performance
NYSE:ZTS opened at $164.36 on Tuesday. The business's 50-day moving average price is $159.07 and its 200 day moving average price is $163.75. The firm has a market cap of $73.18 billion, a P/E ratio of 30.05, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33. 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 (NYSE:ZTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.
Zoetis Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Zoetis's dividend payout ratio (DPR) is 35.91%.
Insider Activity at Zoetis
In related news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. UBS Group cut their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler raised their target price on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus cut their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $212.75.
Get Our Latest Stock Analysis on Zoetis
Zoetis Profile
(
Free Report)
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.
Further Reading
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