Sunbelt Securities Inc. Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

Sunbelt Securities Inc. lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,681 shares of the company’s stock after selling 1,225 shares during the quarter. Sunbelt Securities Inc.’s holdings in Zoetis were worth $623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZTS. Blue Bell Private Wealth Management LLC raised its position in Zoetis by 222.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Independence Bank of Kentucky raised its position in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new stake in Zoetis in the fourth quarter valued at approximately $33,000. Ramirez Asset Management Inc. purchased a new stake in Zoetis in the third quarter valued at approximately $35,000. Finally, Gladius Capital Management LP purchased a new stake in Zoetis in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of ZTS stock opened at $170.94 on Thursday. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average price of $167.30 and a 200 day moving average price of $179.00. The company has a market cap of $78.00 billion, a P/E ratio of 32.94, a PEG ratio of 2.61 and a beta of 0.88. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Sell-side analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be paid a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. Zoetis’s payout ratio is currently 33.14%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the completion of the transaction, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays cut their target price on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Stifel Nicolaus cut their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. The Goldman Sachs Group cut their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, HSBC cut their price objective on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $211.75.

Zoetis 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.