Zoetis (NYSE:ZTS) Trading Down 2.9% on Insider Selling

Zoetis Inc. (NYSE:ZTS) shares dropped 2.9% during trading on Friday following insider selling activity. The stock traded as low as $147.11 and last traded at $148.65. Approximately 1,591,615 shares traded hands during trading, a decline of 46% from the average daily volume of 2,965,410 shares. The stock had previously closed at $153.11.

Specifically, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 2,209 shares of company stock valued at $371,293. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ZTS. The Goldman Sachs Group increased their price objective on Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays increased their target price on shares of Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. StockNews.com lowered Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $220.00) on shares of Zoetis in a research report on Tuesday. Finally, Stifel Nicolaus decreased their target price on Zoetis from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $221.75.

Zoetis Price Performance

The stock has a market cap of $67.70 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. The firm has a 50-day moving average price of $176.49 and a 200-day moving average price of $180.20.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company posted $1.15 EPS. Zoetis’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that Zoetis Inc. will post 5.79 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio is 34.12%.

Institutional Trading of Zoetis

Hedge funds have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC increased its stake in 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 purchasing an additional 89 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Zoetis by 430.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 112 shares during the last quarter. VitalStone Financial LLC bought a new stake in shares of Zoetis during the first quarter valued at approximately $37,000. Evermay Wealth Management LLC raised its holdings in Zoetis by 439.3% in the 1st quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock worth $25,000 after acquiring an additional 123 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in Zoetis in the 1st quarter valued at approximately $26,000. 92.80% of the stock is owned by institutional investors.

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.