Forbes J M & Co. LLP Has $16.25 Million Stake in Zoetis Inc. (NYSE:ZTS)

Forbes J M & Co. LLP trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS – Get Rating) by 0.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,168 shares of the company’s stock after selling 105 shares during the quarter. Zoetis comprises 2.1% of Forbes J M & Co. LLP’s portfolio, making the stock its 17th biggest holding. Forbes J M & Co. LLP’s holdings in Zoetis were worth $16,251,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ZTS. Assenagon Asset Management S.A. lifted its stake in shares of Zoetis by 8.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 14,234 shares of the company’s stock valued at $3,474,000 after buying an additional 1,138 shares during the period. Pinnacle Associates Ltd. lifted its stake in Zoetis by 23.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,625 shares of the company’s stock worth $1,373,000 after purchasing an additional 1,081 shares during the period. Valmark Advisers Inc. bought a new position in Zoetis during the fourth quarter worth about $299,000. DekaBank Deutsche Girozentrale lifted its stake in Zoetis by 11.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 279,284 shares of the company’s stock worth $69,257,000 after purchasing an additional 28,662 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Zoetis during the fourth quarter worth about $48,000. 90.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoetis

In other Zoetis news, CEO Kristin C. Peck sold 311 shares of Zoetis stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $180.00, for a total value of $55,980.00. Following the sale, the chief executive officer now directly owns 39,743 shares in the company, valued at approximately $7,153,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Willie M. Reed sold 1,855 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $162.31, for a total transaction of $301,085.05. Following the transaction, the director now directly owns 6,782 shares in the company, valued at approximately $1,100,786.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kristin C. Peck sold 311 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $180.00, for a total transaction of $55,980.00. Following the transaction, the chief executive officer now owns 39,743 shares in the company, valued at $7,153,740. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,356 shares of company stock worth $3,250,158. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ZTS. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 26th. Stifel Nicolaus dropped their price objective on shares of Zoetis from $275.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 24th. The Goldman Sachs Group dropped their price objective on shares of Zoetis from $208.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, July 21st. William Blair reaffirmed an “outperform” rating on shares of Zoetis in a report on Friday. Finally, Piper Sandler initiated coverage on shares of Zoetis in a report on Monday, July 11th. They set an “overweight” rating and a $205.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.88.

Zoetis Trading Up 0.2 %

Shares of NYSE ZTS opened at $174.61 on Friday. The company’s fifty day moving average is $171.80 and its 200-day moving average is $181.35. The stock has a market cap of $82.18 billion, a price-to-earnings ratio of 39.59, a P/E/G ratio of 2.96 and a beta of 0.73. Zoetis Inc. has a twelve month low of $154.18 and a twelve month high of $249.27. The company has a quick ratio of 1.58, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.02). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. Zoetis had a net margin of 26.14% and a return on equity of 48.90%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. Equities research analysts predict that Zoetis Inc. will post 5.03 EPS for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, July 21st will be paid a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $1.30 annualized dividend and a yield of 0.74%. Zoetis’s payout ratio is currently 29.48%.

About Zoetis

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Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.