SlateStone Wealth LLC Increases Stock Position in Zoetis Inc. (NYSE:ZTS)

SlateStone Wealth LLC lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,071 shares of the company’s stock after purchasing an additional 571 shares during the period. SlateStone Wealth LLC’s holdings in Zoetis were worth $5,146,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Zoetis by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock worth $2,147,730,000 after purchasing an additional 297,044 shares during the period. Northern Trust Corp raised its stake in Zoetis by 3.3% during the 3rd quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock worth $1,068,804,000 after acquiring an additional 196,771 shares during the period. Bank of New York Mellon Corp raised its position in shares of Zoetis by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 3,998,989 shares of the company’s stock valued at $695,744,000 after buying an additional 150,918 shares during the last quarter. Royal Bank of Canada raised its position in shares of Zoetis by 3.1% during the third quarter. Royal Bank of Canada now owns 3,026,518 shares of the company’s stock valued at $526,553,000 after buying an additional 91,713 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Zoetis by 1.4% during the third quarter. Blair William & Co. IL now owns 2,428,509 shares of the company’s stock valued at $422,512,000 after buying an additional 32,918 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 0.0 %

NYSE ZTS opened at $149.59 on Wednesday. The firm has a market capitalization of $68.42 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.22 and a beta of 0.85. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $173.78 and a two-hundred day moving average of $179.78.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) 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 analysts’ expectations of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. On average, analysts predict that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Zoetis’s dividend payout ratio is currently 34.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZTS shares. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus cut their target price on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays cut their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $218.00.

Insider Activity

In other news, EVP Roxanne Lagano sold 363 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the sale, the executive vice president now directly owns 20,417 shares of the company’s stock, valued at $4,037,257.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,209 shares of company stock valued at $371,293. 0.15% of the stock is currently owned by company insiders.

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.