Canandaigua National Bank & Trust Co. Grows Holdings in Zoetis Inc. (NYSE:ZTS)

Canandaigua National Bank & Trust Co. lifted its holdings in Zoetis Inc. (NYSE:ZTS) by 12.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,446 shares of the company’s stock after buying an additional 801 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Zoetis were worth $1,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Zoetis by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 40,334,966 shares of the company’s stock valued at $7,960,912,000 after purchasing an additional 536,477 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Zoetis by 31.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock valued at $2,707,262,000 after purchasing an additional 3,244,074 shares during the last quarter. Wellington Management Group LLP grew its position in Zoetis by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock valued at $2,147,730,000 after purchasing an additional 297,044 shares during the last quarter. Capital World Investors grew its position in Zoetis by 0.6% during the 4th quarter. Capital World Investors now owns 9,064,158 shares of the company’s stock valued at $1,788,988,000 after purchasing an additional 57,798 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Zoetis by 3.3% during the 3rd quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock valued at $1,068,804,000 after acquiring an additional 196,771 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred 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 sale, the executive vice president now owns 14,800 shares in the company, valued at $2,237,316. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Zoetis Price Performance

NYSE ZTS opened at $169.66 on Wednesday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market cap of $77.42 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.65 and a beta of 0.88. The company’s 50 day moving average is $165.90 and its two-hundred day moving average is $179.43. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. As a group, research analysts anticipate that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ZTS shares. Barclays dropped their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. The Goldman Sachs Group dropped their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average target price of $211.75.

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.