Norway Savings Bank Boosts Holdings in Zoetis Inc. (NYSE:ZTS)

Norway Savings Bank raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,832 shares of the company’s stock after buying an additional 255 shares during the period. Norway Savings Bank’s holdings in Zoetis were worth $818,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its holdings in Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Independence Bank of Kentucky lifted its position in shares of Zoetis by 371.4% during the 4th quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in Zoetis in the 4th quarter worth approximately $33,000. Ramirez Asset Management Inc. bought a new stake in Zoetis during the 3rd quarter worth approximately $35,000. Finally, Gladius Capital Management LP purchased a new position in Zoetis during the fourth quarter valued at approximately $40,000. 92.80% of the stock is currently owned by institutional investors.

Insider Activity

In other Zoetis 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 transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

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

Zoetis Stock Down 1.8 %

NYSE ZTS opened at $173.37 on Friday. The stock has a 50 day moving average price of $168.69 and a 200-day moving average price of $178.81. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. The company has a market capitalization of $79.11 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.74 and a beta of 0.88.

Zoetis (NYSE:ZTS) last announced its earnings results 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 business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. As a group, equities analysts predict that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is 33.33%.

Zoetis Company 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.