Zoetis Inc. (NYSE:ZTS) Stake Lessened by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd has reduced its stake in Zoetis Inc. by 67.4%, now holding only 3,000 shares valued at approximately $494,000 as of its latest filing.
• Zoetis recently reported quarterly earnings of $1.48 EPS, exceeding expectations, with revenue of $2.22 billion showing a 1.4% increase year-over-year.
• The company is set to pay a quarterly dividend of $0.50 per share, representing a 1.4% dividend yield and a 35.91% payout ratio.

Cumberland Partners Ltd lowered its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 67.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the company's stock after selling 6,200 shares during the period. Cumberland Partners Ltd's holdings in Zoetis were worth $494,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Zoetis in the fourth quarter valued at $30,000. Cornerstone Planning Group LLC lifted its holdings in shares of Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Zoetis by 87.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after acquiring an additional 120 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of 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 acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC raised its holdings in shares of Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after acquiring an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Trading Up 1.1%

Zoetis stock opened at $147.40 on Friday. The business has a 50 day moving average price of $158.51 and a two-hundred day moving average price of $160.42. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The stock has a market cap of $65.62 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly 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 firm 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 company's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. As a group, equities analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

Analyst Ratings Changes

Several equities analysts have weighed in on ZTS shares. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and cut their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Piper Sandler raised their target price on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and cut their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, UBS Group cut their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Four equities 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $204.63.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the firm'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 completion of the transaction, the executive vice president owned 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is 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.

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