Arden Trust Co Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Arden Trust Co lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,224 shares of the company’s stock after selling 79 shares during the quarter. Arden Trust Co’s holdings in Zoetis were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Value Partners Investments Inc. grew its holdings in Zoetis by 35.0% during the second quarter. Value Partners Investments Inc. now owns 10,972 shares of the company’s stock worth $1,902,000 after acquiring an additional 2,845 shares during the period. First Bank & Trust grew its holdings in Zoetis by 2.5% during the second quarter. First Bank & Trust now owns 9,919 shares of the company’s stock worth $1,720,000 after acquiring an additional 239 shares during the period. Bard Financial Services Inc. grew its holdings in Zoetis by 4.3% during the second quarter. Bard Financial Services Inc. now owns 2,425 shares of the company’s stock worth $420,000 after acquiring an additional 100 shares during the period. Fulton Bank N.A. grew its holdings in Zoetis by 9.5% during the second quarter. Fulton Bank N.A. now owns 15,215 shares of the company’s stock worth $2,638,000 after acquiring an additional 1,322 shares during the period. Finally, Mather Group LLC. grew its holdings in Zoetis by 19.4% during the second quarter. Mather Group LLC. now owns 3,527 shares of the company’s stock worth $597,000 after acquiring an additional 573 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZTS. HSBC dropped their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Stifel Nicolaus upped their target price on Zoetis from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday. BTIG Research started coverage on Zoetis in a report on Thursday, July 25th. They issued a “buy” rating and a $220.00 target price on the stock. The Goldman Sachs Group lowered their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $214.89.

Zoetis Price Performance

Shares of ZTS traded down $0.39 during trading hours on Wednesday, reaching $184.90. 2,097,111 shares of the company traded hands, compared to its average volume of 2,803,766. 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 stock has a market capitalization of $84.37 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.80 and a beta of 0.86. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The stock has a fifty day simple moving average of $175.81 and a 200 day simple moving average of $175.36.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, research analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 annualized dividend and a yield of 0.93%. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

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.