Park Avenue Securities LLC Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Park Avenue Securities LLC reduced its position in Zoetis Inc. (NYSE:ZTS) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,493 shares of the company’s stock after selling 273 shares during the quarter. Park Avenue Securities LLC’s holdings in Zoetis were worth $4,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Blue Bell Private Wealth Management LLC boosted its holdings 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 acquiring an additional 89 shares during the period. Private Wealth Management Group LLC bought a new position in Zoetis during the 4th quarter valued at approximately $33,000. Webster Bank N. A. raised its position in Zoetis by 89.1% during the 1st 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. Gladius Capital Management LP bought a new position in Zoetis during the 4th quarter valued at approximately $40,000. Finally, Neo Ivy Capital Management bought a new position in Zoetis during the 4th quarter valued at approximately $40,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays lowered their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Stifel Nicolaus increased their target price on Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday. HSBC reduced their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group reduced their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $214.89.

Zoetis Stock Down 0.2 %

ZTS traded down $0.39 during trading on Wednesday, hitting $184.90. 2,097,111 shares of the company’s stock traded hands, compared to its average volume of 2,803,766. The company’s 50 day simple moving average is $175.81 and its two-hundred day simple moving average is $175.36. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The stock has a market capitalization of $84.37 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.80 and a beta of 0.86.

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

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be paid a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.93%. Zoetis’s dividend payout ratio (DPR) is currently 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.