Trust Asset Management LLC Grows Holdings in Zoetis Inc. (NYSE:ZTS)

Trust Asset Management LLC grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,192 shares of the company’s stock after purchasing an additional 415 shares during the quarter. Trust Asset Management LLC’s holdings in Zoetis were worth $855,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ZTS. Navigoe LLC purchased a new stake in Zoetis in the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC raised its stake in shares of Zoetis by 79.3% during the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company’s stock valued at $42,000 after purchasing an additional 120 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Zoetis by 141.4% in the first quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock valued at $46,000 after purchasing an additional 164 shares during the period. Finally, Bfsg LLC grew its stake in Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company’s stock worth $48,000 after purchasing an additional 252 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction of $110,840.00. Following the transaction, the executive vice president directly owned 15,129 shares of the company’s stock, valued at $2,571,930. This represents a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Zoetis Stock Performance

ZTS stock opened at $147.34 on Monday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The firm has a market cap of $65.30 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.41 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a 50-day simple moving average of $156.71 and a two-hundred day simple moving average of $159.71.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. During the same quarter in the previous year, the business posted $1.56 EPS. Zoetis’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 18th. Zoetis’s payout ratio is 34.42%.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of research analyst reports. Leerink Partnrs lowered Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Leerink Partners lowered Zoetis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. UBS Group decreased their price objective on Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus cut shares of Zoetis from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, Piper Sandler raised their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Zoetis presently has a consensus rating of “Moderate Buy” and an average price target of $204.63.

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.