First Long Island Investors LLC Reduces Position in Zoetis Inc. (NYSE:ZTS)

First Long Island Investors LLC decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,207 shares of the company’s stock after selling 287 shares during the period. First Long Island Investors LLC’s holdings in Zoetis were worth $5,111,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ZTS. Blue Bell Private Wealth Management LLC grew its position in shares of Zoetis by 222.5% in the fourth 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 during the period. Webster Bank N. A. increased its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Independence Bank of Kentucky increased its stake in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Zoetis in the fourth quarter valued at $33,000. Finally, Gladius Capital Management LP acquired a new position in Zoetis in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 2.4 %

NYSE:ZTS traded up $4.25 on Thursday, hitting $177.74. 1,988,061 shares of the stock were exchanged, compared to its average volume of 2,900,269. 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 moving average of $172.13 and a 200-day moving average of $177.49. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The stock has a market cap of $81.10 billion, a PE ratio of 34.25, a PEG ratio of 2.72 and a beta of 0.86.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.14%.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was 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 document filed with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZTS shares. Stifel Nicolaus dropped their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Piper Sandler reiterated 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 dropped their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. HSBC dropped their target price on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $211.75.

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.