Bowen Hanes & Co. Inc. Sells 1,756 Shares of Zoetis Inc. $ZTS

Bowen Hanes & Co. Inc. reduced its stake in Zoetis Inc. (NYSE:ZTS) by 5.5% during the first quarter, Holdings Channel.com reports. The fund owned 30,375 shares of the company’s stock after selling 1,756 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Zoetis were worth $5,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in Zoetis in the 4th quarter valued at $30,000. Cornerstone Planning Group LLC boosted its position in shares of Zoetis by 79.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company’s stock valued at $42,000 after buying an additional 120 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock valued at $46,000 after buying an additional 164 shares in the last quarter. Finally, Bfsg LLC raised its holdings in shares of Zoetis by 614.6% during the 1st quarter. Bfsg LLC now owns 293 shares of the company’s stock valued at $48,000 after buying an additional 252 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ZTS shares. Leerink Partnrs downgraded Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. UBS Group dropped their target price on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Leerink Partners downgraded Zoetis from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Piper Sandler upped their price target on Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, August 11th. Finally, Stifel Nicolaus cut Zoetis from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Zoetis has a consensus rating of “Moderate Buy” and an average price target of $202.43.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president directly owned 15,129 shares in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Zoetis Price Performance

Shares of Zoetis stock opened at $152.28 on Tuesday. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The business has a 50-day moving average price of $154.69 and a 200 day moving average price of $158.90. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The firm has a market cap of $67.49 billion, a PE ratio of 26.21, a P/E/G ratio of 2.47 and a beta of 0.88.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. Zoetis’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. Sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Zoetis’s dividend payout ratio is presently 34.42%.

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.