Osaic Holdings Inc. Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Osaic Holdings Inc. trimmed its position in Zoetis Inc. (NYSE:ZTS) by 40.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 122,364 shares of the company’s stock after selling 82,385 shares during the quarter. Osaic Holdings Inc.’s holdings in Zoetis were worth $20,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZTS. 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 in the last quarter. Webster Bank N. A. lifted its stake in shares of Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. Independence Bank of Kentucky grew its holdings in shares of Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Zoetis in the 4th quarter valued at $33,000. Finally, Gladius Capital Management LP purchased a new position in Zoetis in the 4th quarter worth $40,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Stifel Nicolaus dropped their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. HSBC reduced their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus target price of $211.75.

Zoetis Stock Performance

Shares of ZTS traded up $2.18 during trading hours on Monday, hitting $180.76. The stock had a trading volume of 1,532,781 shares, compared to its average volume of 2,850,432. The firm has a 50-day moving average price of $173.66 and a 200 day moving average price of $176.55. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The firm has a market capitalization of $82.48 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.77 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data 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 net margin of 27.38% and a return on equity of 50.34%. The business 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 firm posted $1.31 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio 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.