Daymark Wealth Partners LLC Reduces Holdings in Zoetis Inc. (NYSE:ZTS)

Daymark Wealth Partners LLC lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,791 shares of the company’s stock after selling 243 shares during the period. Daymark Wealth Partners LLC’s holdings in Zoetis were worth $1,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company’s stock valued at $6,739,905,000 after buying an additional 120,158 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Zoetis by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock valued at $1,726,075,000 after purchasing an additional 190,137 shares during the period. Polen Capital Management LLC raised its stake in shares of Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares during the period. Wellington Management Group LLP raised its stake in shares of Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after purchasing an additional 3,059,255 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Zoetis by 13.3% during the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company’s stock valued at $1,047,052,000 after purchasing an additional 755,893 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total value of $110,840.00. Following the completion of the transaction, the executive vice president now directly owns 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $157.41 on Thursday. The firm has a market capitalization of $70.08 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.62 and a beta of 0.94. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The stock’s 50-day simple moving average is $160.10 and its two-hundred day simple moving average is $163.02. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, July 18th. Zoetis’s payout ratio is currently 35.91%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ZTS. UBS Group decreased their price objective on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus lowered Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Piper Sandler boosted their price objective on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $212.13.

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.