Zoetis Inc. (NYSE:ZTS) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its stake in Zoetis Inc. (NYSE:ZTS) by 24.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,704 shares of the company’s stock after acquiring an additional 2,084 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Zoetis were worth $2,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brookstone Capital Management lifted its position in shares of Zoetis by 144.1% during the third quarter. Brookstone Capital Management now owns 13,030 shares of the company’s stock worth $2,190,000 after purchasing an additional 7,692 shares in the last quarter. PDS Planning Inc lifted its position in shares of Zoetis by 3.6% during the third quarter. PDS Planning Inc now owns 2,291 shares of the company’s stock worth $399,000 after purchasing an additional 80 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Zoetis by 3.4% during the third quarter. Commonwealth Equity Services LLC now owns 177,180 shares of the company’s stock worth $30,826,000 after purchasing an additional 5,764 shares in the last quarter. Vicus Capital acquired a new stake in shares of Zoetis during the third quarter worth about $309,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Zoetis by 0.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 666,276 shares of the company’s stock worth $115,919,000 after purchasing an additional 5,999 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS traded down $0.11 during mid-day trading on Tuesday, reaching $159.59. 1,607,709 shares of the company’s stock were exchanged, compared to its average volume of 3,121,541. 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 has a market capitalization of $72.99 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. The business’s fifty day simple moving average is $171.21 and its 200-day simple moving average is $179.23. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92.

Zoetis (NYSE:ZTS) last announced its earnings results 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). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. On average, equities research analysts expect that Zoetis Inc. will post 5.79 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, April 19th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.08%. Zoetis’s dividend payout ratio (DPR) is presently 34.12%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction that occurred 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 directly owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 2,209 shares of company stock worth $371,293. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ZTS has been the topic of several analyst reports. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Piper Sandler reaffirmed 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. Finally, Stifel Nicolaus reduced their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $216.13.

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.