Zoetis Inc. (NYSE:ZTS) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 74.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,946 shares of the company’s stock after selling 69,789 shares during the period. Zoetis makes up approximately 1.4% of Cary Street Partners Investment Advisory LLC’s investment portfolio, making the stock its 13th biggest holding. Cary Street Partners Investment Advisory LLC’s holdings in Zoetis were worth $4,726,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Peak Financial Advisors LLC purchased a new position in shares of Zoetis during the fourth quarter worth $2,776,000. BLB&B Advisors LLC lifted its holdings in shares of Zoetis by 1.9% in the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock valued at $10,591,000 after buying an additional 1,107 shares during the period. Ninety One UK Ltd boosted its stake in shares of Zoetis by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after buying an additional 12,537 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Zoetis by 10.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after acquiring an additional 17,976 shares during the period. Finally, Advisor Partners II LLC raised its position in Zoetis by 4.0% during the third quarter. Advisor Partners II LLC now owns 24,068 shares of the company’s stock valued at $4,187,000 after acquiring an additional 922 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of ZTS traded down $0.10 during mid-day trading on Tuesday, hitting $159.60. 1,646,714 shares of the company were exchanged, compared to its average volume of 3,122,652. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.00 and a current ratio of 3.36. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The stock has a market cap of $72.99 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. The company has a 50 day moving average of $171.21 and a 200-day moving average of $179.23.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. Zoetis had a net margin of 27.43% and a return on equity of 51.25%. Zoetis’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. Analysts expect that Zoetis Inc. will post 5.79 EPS for the current fiscal year.

Zoetis Dividend Announcement

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. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.08%. Zoetis’s dividend payout ratio (DPR) is presently 34.12%.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $173.33, for a total transaction of $159,983.59. Following the transaction, the executive vice president now owns 15,723 shares in the company, valued at $2,725,267.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders sold 2,209 shares of company stock worth $371,293. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZTS. Barclays dropped their price objective on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their price target on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. StockNews.com cut Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus reduced their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $216.13.

Zoetis 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.