Cary Street Partners Asset Management LLC Sells 76 Shares of Zoetis Inc. (NYSE:ZTS)

Cary Street Partners Asset Management LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,927 shares of the company’s stock after selling 76 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Zoetis were worth $1,170,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Hartford Funds Management Co LLC bought a new position in Zoetis during the fourth quarter worth about $292,000. Savant Capital LLC boosted its stake in Zoetis by 9.0% during the 4th quarter. Savant Capital LLC now owns 8,002 shares of the company’s stock worth $1,579,000 after acquiring an additional 660 shares during the last quarter. Alpha Cubed Investments LLC grew its holdings in Zoetis by 17.6% during the fourth quarter. Alpha Cubed Investments LLC now owns 118,162 shares of the company’s stock valued at $23,322,000 after purchasing an additional 17,708 shares during the period. MONECO Advisors LLC bought a new stake in Zoetis in the fourth quarter valued at approximately $200,000. Finally, Brighton Jones LLC boosted its position in shares of Zoetis by 12.4% during the fourth quarter. Brighton Jones LLC now owns 3,127 shares of the company’s stock worth $617,000 after purchasing an additional 344 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Barclays reduced their price objective on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus decreased their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $216.13.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $173.33, for a total transaction of $159,983.59. Following the sale, the executive vice president now directly owns 15,723 shares of the company’s stock, valued at approximately $2,725,267.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,209 shares of company stock valued at $371,293 over the last ninety days. 0.16% of the stock is owned by corporate insiders.

Zoetis Price Performance

Zoetis stock opened at $158.53 on Thursday. The firm has a market cap of $72.51 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.50 and a beta of 0.86. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00. The stock’s fifty day moving average price is $170.07 and its two-hundred day moving average price is $178.97. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Zoetis’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, research analysts expect that Zoetis Inc. will post 5.78 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.09%. Zoetis’s dividend payout ratio is currently 34.12%.

About Zoetis

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.