City National Bank of Florida MSD Takes $246,000 Position in Zoetis Inc. (NYSE:ZTS)

City National Bank of Florida MSD acquired a new stake in Zoetis Inc. (NYSE:ZTS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,509 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds have also added to or reduced their stakes in the company. Mission Wealth Management LP increased its stake in Zoetis by 2.0% during the 4th quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock worth $479,000 after purchasing an additional 59 shares in the last quarter. VeraBank N.A. raised its holdings in shares of Zoetis by 4.1% during the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock worth $254,000 after acquiring an additional 62 shares during the period. HUB Investment Partners LLC raised its holdings in shares of Zoetis by 4.7% during the fourth quarter. HUB Investment Partners LLC now owns 1,373 shares of the company’s stock worth $224,000 after acquiring an additional 62 shares during the period. Coppell Advisory Solutions LLC lifted its position in Zoetis by 18.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company’s stock valued at $68,000 after acquiring an additional 64 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in Zoetis by 6.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company’s stock worth $170,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity

In related news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. The trade was a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ZTS. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Piper Sandler lifted their target price on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Stifel Nicolaus reduced their price target on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, UBS Group cut their price objective on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $212.75.

Zoetis Stock Down 1.4%

ZTS stock opened at $161.33 on Thursday. The company has a market cap of $71.82 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.78 and a beta of 0.94. 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 $156.58 and a two-hundred day moving average price of $165.05. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $1.38 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

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.