Canandaigua National Bank & Trust Co. Cuts Position in Zoetis Inc (NYSE:ZTS)

Canandaigua National Bank & Trust Co. lessened its position in shares of Zoetis Inc (NYSE:ZTS) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,590 shares of the company’s stock after selling 780 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Zoetis were worth $2,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC bought a new stake in shares of Zoetis in the 2nd quarter valued at approximately $27,000. Tarbox Family Office Inc. lifted its stake in shares of Zoetis by 74.4% in the 3rd quarter. Tarbox Family Office Inc. now owns 218 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. Tradewinds Capital Management LLC bought a new stake in shares of Zoetis in the 3rd quarter valued at approximately $31,000. Corbenic Partners LLC bought a new stake in shares of Zoetis in the 4th quarter valued at approximately $31,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Zoetis in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Shares of ZTS stock traded up $0.82 on Friday, reaching $140.06. 952,370 shares of the company’s stock were exchanged, compared to its average volume of 1,711,059. Zoetis Inc has a 52 week low of $82.26 and a 52 week high of $139.40. The company has a current ratio of 4.39, a quick ratio of 3.02 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $65.85 billion, a PE ratio of 44.75, a P/E/G ratio of 2.98 and a beta of 0.81. The company’s fifty day simple moving average is $129.17 and its 200 day simple moving average is $123.57.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. Zoetis had a return on equity of 70.78% and a net margin of 23.76%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.83 EPS. Zoetis’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Zoetis Inc will post 3.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 16th. This is a positive change from Zoetis’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. Zoetis’s payout ratio is 21.09%.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Zoetis from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Thursday, December 26th. Bank of America reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Zoetis in a research note on Thursday, December 5th. ValuEngine lowered Zoetis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $138.00 price objective on Zoetis and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Raymond James assumed coverage on Zoetis in a research note on Thursday, January 9th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $127.47.

In other Zoetis news, EVP Clinton A. Jr. Lewis sold 6,123 shares of Zoetis stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $116.13, for a total transaction of $711,063.99. Following the completion of the sale, the executive vice president now directly owns 36,584 shares of the company’s stock, valued at approximately $4,248,499.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kristin C. Peck sold 11,500 shares of Zoetis stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $117.16, for a total value of $1,347,340.00. Following the sale, the executive vice president now directly owns 44,877 shares of the company’s stock, valued at $5,257,789.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,116 shares of company stock valued at $15,099,357. 0.29% of the stock is currently owned by corporate insiders.

About Zoetis

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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