Global Endowment Management LP Sells 1,134 Shares of Zoetis Inc. (NYSE:ZTS)

Global Endowment Management LP lessened its position in Zoetis Inc. (NYSE:ZTS) by 44.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,446 shares of the company’s stock after selling 1,134 shares during the period. Global Endowment Management LP’s holdings in Zoetis were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Coppell Advisory Solutions LLC raised its holdings in shares of Zoetis by 18.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company’s stock valued at $68,000 after purchasing an additional 64 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Zoetis by 1.8% during the first quarter. Lindbrook Capital LLC now owns 3,715 shares of the company’s stock valued at $612,000 after purchasing an additional 65 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in shares of Zoetis by 2.3% during the first quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company’s stock valued at $521,000 after purchasing an additional 72 shares during the last quarter. Broadway Wealth Solutions Inc. raised its holdings in shares of Zoetis by 4.4% during the first quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company’s stock valued at $287,000 after purchasing an additional 73 shares during the last quarter. Finally, Menard Financial Group LLC raised its holdings in shares of Zoetis by 3.8% during the first quarter. Menard Financial Group LLC now owns 2,032 shares of the company’s stock valued at $305,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZTS. Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. UBS Group reduced their target price on shares of 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 reduced their target price for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Leerink Partners cut shares of Zoetis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Thursday, July 17th. Finally, Piper Sandler upped their target price on shares of Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.43.

Insider Buying and Selling at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 directly owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Zoetis Stock Up 0.7%

Shares of ZTS stock opened at $154.15 on Friday. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The stock has a market cap of $68.32 billion, a P/E ratio of 26.53, a P/E/G ratio of 2.46 and a beta of 0.88. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $154.94 and a two-hundred day simple moving average of $159.20.

Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. The business 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%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. On average, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, July 18th. Zoetis’s dividend payout ratio is presently 34.42%.

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.