Tufton Capital Management Lowers Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Tufton Capital Management trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,891 shares of the company’s stock after selling 1,123 shares during the period. Zoetis accounts for approximately 1.8% of Tufton Capital Management’s holdings, making the stock its 20th largest holding. Tufton Capital Management’s holdings in Zoetis were worth $8,663,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZTS. Norges Bank purchased a new position in shares of Zoetis in the 4th quarter worth $745,861,000. Morgan Stanley raised its holdings in shares of Zoetis by 34.6% in the 4th quarter. Morgan Stanley now owns 10,872,704 shares of the company’s stock worth $1,593,395,000 after purchasing an additional 2,796,694 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Zoetis by 124,281.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,332,160 shares of the company’s stock worth $341,778,000 after purchasing an additional 2,330,285 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Zoetis by 171.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,326,448 shares of the company’s stock valued at $627,335,000 after purchasing an additional 2,102,306 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Zoetis during the 3rd quarter worth about $176,219,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Up 1.3 %

NYSE ZTS traded up $1.94 during mid-day trading on Thursday, reaching $153.45. 1,665,721 shares of the company’s stock traded hands, compared to its average volume of 2,945,074. The company has a fifty day simple moving average of $177.35 and a 200-day simple moving average of $180.39. Zoetis Inc. has a 1-year low of $148.48 and a 1-year high of $201.92. The company has a market cap of $70.18 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.34 and a beta of 0.85. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 EPS. As a group, equities research analysts expect that Zoetis Inc. will post 5.79 EPS for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.13%. Zoetis’s payout ratio is 34.12%.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the transaction, the executive vice president now owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZTS shares. Barclays lifted their price target on shares of Zoetis from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Stifel Nicolaus decreased their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis has an average rating of “Buy” and a consensus target price of $221.75.

Zoetis Company 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.