Norway Savings Bank Sells 498 Shares of Zoetis Inc. (NYSE:ZTS)

Norway Savings Bank trimmed its holdings in Zoetis Inc. (NYSE:ZTS) by 11.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,773 shares of the company’s stock after selling 498 shares during the quarter. Norway Savings Bank’s holdings in Zoetis were worth $621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Zoetis by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock worth $6,739,905,000 after acquiring an additional 120,158 shares during the last quarter. Geode Capital Management LLC raised its holdings in Zoetis by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock valued at $1,726,075,000 after buying an additional 190,137 shares during the last quarter. Polen Capital Management LLC raised its holdings in Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after buying an additional 1,116,541 shares during the last quarter. Wellington Management Group LLP raised its holdings in Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Zoetis by 13.3% during the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company’s stock valued at $1,047,052,000 after buying an additional 755,893 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent analyst reports. UBS Group lowered their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Piper Sandler upped their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Finally, Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and lowered their price target for the company from $165.00 to $160.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $212.13.

Zoetis Stock Up 1.4%

Shares of Zoetis stock opened at $157.26 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. The company’s fifty day simple moving average is $159.58 and its two-hundred day simple moving average is $163.40. The company has a market cap of $70.01 billion, a P/E ratio of 28.23, a PEG ratio of 2.57 and a beta of 0.94. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 EPS. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s dividend payout ratio is presently 35.91%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, the executive vice president now directly owns 15,129 shares of the company’s stock, valued at $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

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.