Segall Bryant & Hamill LLC Decreases Position in Zoetis Inc. (NYSE:ZTS)

Segall Bryant & Hamill LLC lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 11.4% during the 1st quarter, Holdings Channel reports. The firm owned 62,252 shares of the company’s stock after selling 8,034 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Zoetis were worth $10,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Zoetis by 180.4% in the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company’s stock valued at $754,000 after buying an additional 2,978 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Zoetis by 5.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company’s stock worth $68,354,000 after buying an additional 21,470 shares in the last quarter. Proficio Capital Partners LLC raised its position in Zoetis by 61.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,053 shares of the company’s stock valued at $497,000 after buying an additional 1,157 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Zoetis by 12.6% in the 4th quarter. Advisors Asset Management Inc. now owns 19,733 shares of the company’s stock worth $3,215,000 after purchasing an additional 2,213 shares during the period. Finally, Vinva Investment Management Ltd raised its holdings in shares of Zoetis by 9.6% during the 4th quarter. Vinva Investment Management Ltd now owns 21,323 shares of the company’s stock valued at $3,459,000 after buying an additional 1,867 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on ZTS shares. Piper Sandler lifted their price target on Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. UBS Group lowered their price objective on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Leerink Partners cut shares of Zoetis from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $180.00 to $155.00 in a research report on Thursday. Finally, Stifel Nicolaus downgraded shares of Zoetis from a “buy” rating to a “hold” rating and cut their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.63.

Zoetis Trading Down 1.0%

NYSE:ZTS opened at $150.00 on Friday. Zoetis Inc. has a 1 year low of $139.70 and a 1 year high of $200.33. The stock has a 50-day simple moving average of $161.00 and a 200-day simple moving average of $161.54. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The stock has a market cap of $66.78 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.51 and a beta of 0.91.

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

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a yield of 1.33%. Zoetis’s dividend payout ratio is currently 35.91%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. 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.

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.