Beech Hill Advisors Inc. Sells 68 Shares of Zoetis Inc. (NYSE:ZTS)

Beech Hill Advisors Inc. lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,496 shares of the company’s stock after selling 68 shares during the period. Beech Hill Advisors Inc.’s holdings in Zoetis were worth $253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZTS. Norges Bank purchased a new stake in Zoetis in the 4th quarter worth about $980,646,000. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 3,244,074 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Zoetis in the 4th quarter valued at $242,757,000. CIBC Private Wealth Group LLC increased its stake in Zoetis by 122.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after purchasing an additional 797,884 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Zoetis by 44.4% during the fourth quarter. Corient Private Wealth LLC now owns 1,953,508 shares of the company’s stock worth $385,564,000 after purchasing an additional 600,804 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of ZTS stock opened at $167.92 on Wednesday. The company has a market cap of $76.62 billion, a P/E ratio of 32.35, a PEG ratio of 2.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The stock’s 50-day moving average is $167.30 and its 200 day moving average is $179.00. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

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

Zoetis Dividend Announcement

The firm 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 $0.432 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.03%. Zoetis’s payout ratio is 33.33%.

Wall Street Analyst Weigh In

ZTS has been the topic of several recent analyst reports. Barclays reduced their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus lowered their price target on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. HSBC dropped their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group decreased their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a report on Monday, May 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $211.75.

Insider Buying and Selling

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

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.