Park Avenue Securities LLC Reduces Stock Position in Zoetis Inc (NYSE:ZTS)

Park Avenue Securities LLC cut its stake in Zoetis Inc (NYSE:ZTS) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,588 shares of the company’s stock after selling 1,304 shares during the period. Park Avenue Securities LLC’s holdings in Zoetis were worth $2,563,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Zoetis by 2.2% during the 1st quarter. BlackRock Inc. now owns 37,486,408 shares of the company’s stock worth $3,773,759,000 after purchasing an additional 795,558 shares in the last quarter. FMR LLC boosted its position in Zoetis by 12.2% during the first quarter. FMR LLC now owns 8,127,931 shares of the company’s stock worth $818,239,000 after acquiring an additional 882,183 shares during the last quarter. Geode Capital Management LLC boosted its position in Zoetis by 14.4% during the fourth quarter. Geode Capital Management LLC now owns 6,227,976 shares of the company’s stock worth $531,801,000 after acquiring an additional 785,088 shares during the last quarter. Northern Trust Corp boosted its position in Zoetis by 0.5% during the first quarter. Northern Trust Corp now owns 5,905,459 shares of the company’s stock worth $594,503,000 after acquiring an additional 27,849 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Zoetis by 12.8% during the first quarter. American Century Companies Inc. now owns 4,539,546 shares of the company’s stock worth $456,996,000 after acquiring an additional 513,924 shares during the last quarter. 90.12% of the stock is owned by institutional investors.

A number of analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Zoetis in a research report on Thursday, May 23rd. They set a “buy” rating and a $114.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Zoetis from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Zacks Investment Research lowered shares of Zoetis from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Craig Hallum raised their target price on shares of Zoetis from $114.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Gabelli lowered shares of Zoetis from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $111.73.

In other Zoetis news, insider Roxanne Lagano sold 29,453 shares of Zoetis stock in a transaction on Friday, May 10th. The shares were sold at an average price of $101.65, for a total value of $2,993,897.45. Following the transaction, the insider now owns 58,180 shares in the company, valued at approximately $5,913,997. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristin C. Peck sold 11,500 shares of Zoetis stock in a transaction on Monday, May 13th. The shares were sold at an average price of $100.92, for a total transaction of $1,160,580.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,613 shares of company stock worth $7,963,366. 0.29% of the stock is owned by company insiders.

Shares of ZTS traded up $7.98 during mid-day trading on Tuesday, reaching $120.55. The company had a trading volume of 2,522,541 shares, compared to its average volume of 1,709,237. The firm has a market capitalization of $57.14 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 3.18 and a beta of 0.92. The company’s fifty day simple moving average is $114.23. Zoetis Inc has a fifty-two week low of $78.90 and a fifty-two week high of $117.03. The company has a debt-to-equity ratio of 2.84, a quick ratio of 2.79 and a current ratio of 4.05.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. Zoetis had a net margin of 23.47% and a return on equity of 73.66%. Zoetis’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. On average, equities research analysts expect that Zoetis Inc will post 3.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 19th will be issued a $0.164 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.54%. Zoetis’s dividend payout ratio (DPR) is presently 21.09%.

Zoetis Profile

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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