Bowen Hanes & Co. Inc. Reduces Holdings in Zoetis Inc. (NYSE:ZTS)

Bowen Hanes & Co. Inc. cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 84.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,131 shares of the company’s stock after selling 179,357 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Zoetis were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its holdings in Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Rakuten Securities Inc. boosted its holdings in Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 166 shares during the period. Darwin Wealth Management LLC purchased a new stake in Zoetis during the 3rd quarter valued at about $31,000. Dunhill Financial LLC boosted its holdings in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Finally, Asset Planning Inc purchased a new stake in Zoetis during the 4th quarter valued at about $58,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the transaction, the executive vice president now owns 15,781 shares of the company’s stock, valued at $2,682,770. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,862 shares of company stock valued at $312,254 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Zoetis Trading Down 1.6 %

ZTS opened at $161.74 on Thursday. The stock has a market cap of $72.43 billion, a PE ratio of 29.57, a PEG ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average of $166.92 and a 200-day moving average of $176.44. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.33.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Equities research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ZTS shares. Piper Sandler increased their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Stifel Nicolaus dropped their price objective on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Barclays increased their price objective on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, UBS Group started coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Zoetis has a consensus rating of “Buy” and a consensus target price of $215.90.

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.