Pinnacle Bancorp Inc. Sells 93 Shares of Zoetis Inc. (NYSE:ZTS)

Pinnacle Bancorp Inc. trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,502 shares of the company’s stock after selling 93 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Zoetis were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ZTS. Norges Bank bought a new position in shares of Zoetis in the 4th quarter worth about $824,321,000. Wellington Management Group LLP lifted its holdings in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after purchasing an additional 3,059,255 shares in the last quarter. Sarasin & Partners LLP bought a new position in shares of Zoetis in the first quarter valued at $339,111,000. GAMMA Investing LLC boosted its stake in Zoetis by 14,731.3% during the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company’s stock valued at $289,666,000 after purchasing an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Zoetis during the fourth quarter valued at approximately $196,651,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $157.76 on Wednesday. The stock has a market cap of $70.23 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.61 and a beta of 0.94. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The stock’s 50-day moving average is $159.89 and its 200 day moving average is $163.06. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. Zoetis’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. On average, sell-side analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s dividend payout ratio (DPR) is 35.91%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZTS. Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. UBS Group lowered their price objective on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Piper Sandler raised their price target on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Two investment 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 company’s stock. According to MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and an average target price of $212.13.

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.