Forbes J M & Co. LLP Sells 1,471 Shares of Zoetis Inc. (NYSE:ZTS)

Forbes J M & Co. LLP trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,312 shares of the company’s stock after selling 1,471 shares during the quarter. Forbes J M & Co. LLP’s holdings in Zoetis were worth $9,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its stake in Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Independence Bank of Kentucky boosted its position in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Zoetis during the 4th quarter valued at approximately $33,000. Ramirez Asset Management Inc. bought a new position in shares of Zoetis during the 3rd quarter valued at approximately $35,000. Finally, Gladius Capital Management LP bought a new position in shares of Zoetis during the 4th quarter valued at approximately $40,000. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ZTS has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group lowered their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Barclays lowered their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC decreased their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. 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 Trading Up 1.7 %

NYSE:ZTS traded up $2.91 during midday trading on Friday, hitting $171.09. 4,899,668 shares of the company traded hands, compared to its average volume of 2,118,600. 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 firm’s fifty day moving average is $166.56 and its 200-day moving average is $179.20. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The firm has a market capitalization of $78.07 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.61 and a beta of 0.88.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders 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 yield of 1.01%. Zoetis’s payout ratio is 33.33%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.