Shorepoint Capital Partners LLC Raises Holdings in Zoetis Inc. (NYSE:ZTS)

Shorepoint Capital Partners LLC grew its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,590 shares of the company’s stock after buying an additional 896 shares during the period. Shorepoint Capital Partners LLC’s holdings in Zoetis were worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Callahan Advisors LLC grew its holdings in shares of Zoetis by 90.4% during the fourth quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock worth $2,135,000 after purchasing an additional 6,221 shares during the last quarter. CIBC Asset Management Inc increased its position in Zoetis by 24.1% during the fourth quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock worth $38,617,000 after buying an additional 46,050 shares during the period. Pensionfund Sabic boosted its holdings in shares of Zoetis by 55.6% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock valued at $1,825,000 after acquiring an additional 4,000 shares during the period. Schroder Investment Management Group grew its position in shares of Zoetis by 2.6% during the fourth quarter. Schroder Investment Management Group now owns 245,726 shares of the company’s stock worth $40,036,000 after acquiring an additional 6,169 shares during the last quarter. Finally, PFW Advisors LLC acquired a new position in shares of Zoetis in the 4th quarter valued at $1,764,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

ZTS has been the topic of several research reports. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price objective on Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley dropped their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Barclays increased their price target on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $214.40.

Zoetis Trading Up 0.8 %

Shares of ZTS stock opened at $153.58 on Friday. The stock has a market cap of $68.52 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.78 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The business has a fifty day simple moving average of $158.91 and a 200-day simple moving average of $168.47.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is currently 36.56%.

Zoetis 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.