Central Pacific Bank Trust Division Makes New $509,000 Investment in Zoetis Inc. (NYSE:ZTS)

Central Pacific Bank Trust Division bought a new position in shares of Zoetis Inc. (NYSE:ZTSFree Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,046 shares of the company’s stock, valued at approximately $509,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ramirez Asset Management Inc. bought a new stake in shares of Zoetis in the 3rd quarter worth $35,000. Essex Financial Services Inc. raised its stake in Zoetis by 12.5% in the third quarter. Essex Financial Services Inc. now owns 2,102 shares of the company’s stock valued at $366,000 after purchasing an additional 233 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Zoetis by 5.8% in the third quarter. Moneta Group Investment Advisors LLC now owns 2,462 shares of the company’s stock valued at $428,000 after purchasing an additional 135 shares in the last quarter. BRYN MAWR TRUST Co grew its position in Zoetis by 69.0% during the third quarter. BRYN MAWR TRUST Co now owns 2,131 shares of the company’s stock valued at $371,000 after acquiring an additional 870 shares during the last quarter. Finally, Creative Planning grew its position in Zoetis by 22.1% during the third quarter. Creative Planning now owns 47,797 shares of the company’s stock valued at $8,316,000 after acquiring an additional 8,642 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Stock Down 1.0 %

ZTS stock traded down $1.77 during trading on Wednesday, reaching $172.47. 140,701 shares of the company traded hands, compared to its average volume of 2,893,247. The business has a 50 day simple moving average of $171.62 and a 200 day simple moving average of $177.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a market capitalization of $78.70 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86.

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

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be paid 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 is presently 33.33%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, April 18th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

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

View Our Latest Stock Report on Zoetis

Zoetis Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Zoetis (NYSE:ZTS)

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