Cardinal Point Capital Management ULC Sells 8,256 Shares of Zoetis Inc. $ZTS

Cardinal Point Capital Management ULC cut its holdings in Zoetis Inc. (NYSE:ZTS) by 74.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,800 shares of the company’s stock after selling 8,256 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Zoetis were worth $410,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Savvy Advisors Inc. grew its stake in Zoetis by 54.0% in the second quarter. Savvy Advisors Inc. now owns 3,177 shares of the company’s stock valued at $495,000 after acquiring an additional 1,114 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Zoetis by 67.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,886 shares of the company’s stock worth $750,000 after purchasing an additional 1,961 shares in the last quarter. CIBC Asset Management Inc grew its position in Zoetis by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 251,495 shares of the company’s stock valued at $36,745,000 after purchasing an additional 10,434 shares during the period. Nordea Investment Management AB grew its position in Zoetis by 10.0% in the 2nd quarter. Nordea Investment Management AB now owns 2,356,166 shares of the company’s stock valued at $368,245,000 after purchasing an additional 214,889 shares during the period. Finally, Ninety One UK Ltd increased its stake in Zoetis by 19.6% during the 3rd quarter. Ninety One UK Ltd now owns 1,119,132 shares of the company’s stock valued at $163,751,000 after purchasing an additional 183,686 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Zoetis from $140.00 to $130.00 and set a “hold” rating for the company in a report on Tuesday, November 18th. Barclays initiated coverage on shares of Zoetis in a research report on Monday, December 8th. They issued an “equal weight” rating and a $136.00 price target on the stock. KeyCorp assumed coverage on Zoetis in a report on Thursday, November 20th. They set a “sector weight” rating for the company. Bank of America lowered Zoetis from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a report on Monday, December 15th. Finally, Wall Street Zen raised Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Hold” and an average price target of $152.45.

Zoetis Trading Down 0.1%

Shares of ZTS stock opened at $127.28 on Tuesday. The company has a 50 day moving average of $123.96 and a 200-day moving average of $136.01. The company has a quick ratio of 2.28, a current ratio of 3.64 and a debt-to-equity ratio of 1.31. Zoetis Inc. has a 12-month low of $115.25 and a 12-month high of $177.00. The firm has a market cap of $56.09 billion, a P/E ratio of 21.43, a PEG ratio of 2.20 and a beta of 0.96.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Zoetis’s payout ratio is presently 35.69%.

Zoetis Company Profile

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.