Bessemer Group Inc. Sells 420,130 Shares of Zoetis Inc. (NYSE:ZTS)

Bessemer Group Inc. lessened its stake in Zoetis Inc. (NYSE:ZTS) by 90.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,209 shares of the company’s stock after selling 420,130 shares during the period. Bessemer Group Inc.’s holdings in Zoetis were worth $7,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hohimer Wealth Management LLC increased its position in Zoetis by 1.2% during the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after purchasing an additional 52 shares during the period. Forum Financial Management LP boosted its stake in shares of Zoetis by 0.8% in the 4th quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock valued at $1,458,000 after purchasing an additional 56 shares during the last quarter. Angeles Wealth Management LLC increased its position in shares of Zoetis by 3.5% during the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after buying an additional 56 shares during the period. Prossimo Advisors LLC raised its stake in Zoetis by 1.7% during the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock worth $690,000 after buying an additional 57 shares during the last quarter. Finally, River Street Advisors LLC lifted its holdings in Zoetis by 3.4% in the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Up 0.1 %

Shares of NYSE ZTS traded up $0.25 during midday trading on Wednesday, hitting $179.63. 1,309,270 shares of the stock traded hands, compared to its average volume of 2,832,122. 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 Inc. has a one year low of $144.80 and a one year high of $201.92. The business has a 50 day moving average price of $174.13 and a two-hundred day moving average price of $176.35. The company has a market cap of $81.96 billion, a PE ratio of 34.61, a P/E/G ratio of 2.81 and a beta of 0.86.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating 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 analyst estimates of $2.14 billion. During the same quarter in the previous year, the business posted $1.31 EPS. Zoetis’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts predict that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a yield of 0.96%. Zoetis’s payout ratio is 33.14%.

Wall Street Analyst Weigh In

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

About Zoetis

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.