Comerica Bank Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Comerica Bank decreased its position in Zoetis Inc. (NYSE:ZTS) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,431 shares of the company’s stock after selling 2,293 shares during the period. Comerica Bank’s holdings in Zoetis were worth $35,438,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after buying an additional 89 shares during the period. Independence Bank of Kentucky lifted its holdings in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new position in Zoetis in the fourth quarter worth about $33,000. Webster Bank N. A. grew its stake in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in shares of Zoetis during the 4th quarter valued at about $40,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ZTS shares. HSBC reduced their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. BTIG Research began coverage on shares of Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 price target on the stock. Stifel Nicolaus cut their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Barclays decreased their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $212.67.

Zoetis Trading Up 0.6 %

ZTS traded up $1.17 on Thursday, reaching $181.21. 872,227 shares of the company traded hands, compared to its average volume of 2,792,018. The company has a quick ratio of 1.94, a current ratio of 3.33 and a debt-to-equity ratio of 1.30. The company has a market cap of $82.69 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.86. The firm has a fifty day simple moving average of $175.00 and a two-hundred day simple moving average of $175.80. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. Zoetis’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 earnings per share. As a group, equities research analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The firm 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. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.95%. Zoetis’s dividend payout ratio is currently 33.33%.

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.