SlateStone Wealth LLC Grows Holdings in Zoetis Inc (ZTS)

SlateStone Wealth LLC lifted its position in Zoetis Inc (NYSE:ZTS) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,301 shares of the company’s stock after acquiring an additional 1,252 shares during the period. SlateStone Wealth LLC’s holdings in Zoetis were worth $2,346,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ZTS. Vanguard Group Inc raised its stake in shares of Zoetis by 0.8% in the third quarter. Vanguard Group Inc now owns 35,947,496 shares of the company’s stock worth $3,291,353,000 after purchasing an additional 293,614 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Zoetis by 9,042.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,335,563 shares of the company’s stock worth $168,000 after buying an additional 14,178,765 shares in the last quarter. Polen Capital Management LLC raised its position in shares of Zoetis by 1.9% during the 4th quarter. Polen Capital Management LLC now owns 9,553,567 shares of the company’s stock worth $817,212,000 after buying an additional 178,893 shares in the last quarter. FMR LLC raised its position in shares of Zoetis by 209.7% during the 4th quarter. FMR LLC now owns 7,245,748 shares of the company’s stock worth $619,801,000 after buying an additional 4,905,887 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Zoetis by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 6,227,976 shares of the company’s stock worth $531,801,000 after buying an additional 785,088 shares in the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Zoetis from $101.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Zacks Investment Research downgraded shares of Zoetis from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Gabelli downgraded shares of Zoetis from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a report on Thursday, May 2nd. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on shares of Zoetis from $102.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Finally, UBS Group initiated coverage on shares of Zoetis in a report on Wednesday, March 20th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $103.15.

ZTS traded up $0.56 on Tuesday, reaching $101.91. 33,266 shares of the company traded hands, compared to its average volume of 2,270,821. The company has a debt-to-equity ratio of 2.84, a quick ratio of 2.79 and a current ratio of 4.05. The company has a market capitalization of $48.96 billion, a PE ratio of 32.55, a PEG ratio of 2.54 and a beta of 0.91. Zoetis Inc has a 52-week low of $78.90 and a 52-week high of $103.97.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, May 2nd. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Zoetis had a net margin of 23.47% and a return on equity of 73.66%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, equities analysts forecast that Zoetis Inc will post 3.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, April 18th will be given a $0.164 dividend. This represents a $0.66 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, April 17th. Zoetis’s dividend payout ratio is 21.09%.

In other news, insider Clinton A. Jr. Lewis sold 6,125 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $91.96, for a total value of $563,255.00. Following the completion of the sale, the insider now directly owns 45,512 shares in the company, valued at $4,185,283.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Roxanne Lagano sold 29,453 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.65, for a total transaction of $2,993,897.45. Following the completion of the sale, the insider now owns 58,180 shares of the company’s stock, valued at $5,913,997. The disclosure for this sale can be found here. Insiders sold 428,286 shares of company stock valued at $40,670,360 over the last three months. Insiders own 0.29% of the company’s stock.

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About Zoetis

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.

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Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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