Congress Wealth Management LLC DE Decreases Position in Zoetis Inc. (NYSE:ZTS)

Congress Wealth Management LLC DE cut its stake in Zoetis Inc. (NYSE:ZTS) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,010 shares of the company’s stock after selling 495 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Zoetis were worth $17,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Peak Financial Advisors LLC bought a new stake in Zoetis during the fourth quarter valued at approximately $2,776,000. Focus Financial Network Inc. ADV bought a new position in shares of Zoetis in the fourth quarter worth approximately $2,159,000. Price T Rowe Associates Inc. MD boosted its position in shares of Zoetis by 31.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Ninety One UK Ltd boosted its position in shares of Zoetis by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Zoetis by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after purchasing an additional 17,976 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Zoetis Price Performance

Zoetis stock traded down $0.78 during mid-day trading on Monday, reaching $172.58. 1,544,766 shares of the company’s stock traded hands, compared to its average volume of 2,958,997. The company has a market cap of $78.75 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.69 and a beta of 0.88. The stock has a 50 day moving average of $168.69 and a two-hundred day moving average of $178.59. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is presently 33.14%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ZTS. Barclays dropped their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC lowered their target price on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. The Goldman Sachs Group lowered their target price on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $211.75.

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.