Zoetis Inc. $ZTS Stock Holdings Reduced by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its position in Zoetis Inc. (NYSE:ZTS) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,670 shares of the company’s stock after selling 5,809 shares during the period. Cresset Asset Management LLC’s holdings in Zoetis were worth $3,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZTS. Navigoe LLC acquired a new stake in shares of Zoetis in the 4th quarter valued at $30,000. Cornerstone Planning Group LLC raised its holdings in 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 buying an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position 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 worth $42,000 after buying an additional 120 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company’s stock worth $46,000 after acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in Zoetis by 614.6% in the 1st quarter. Bfsg LLC now owns 293 shares of the company’s stock worth $48,000 after purchasing an additional 252 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Down 1.2%

Shares of ZTS opened at $152.28 on Tuesday. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $67.49 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 2.47 and a beta of 0.88. The stock’s 50-day moving average price is $154.69 and its 200 day moving average price is $158.90.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. Zoetis’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 EPS. As a group, research analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ZTS shares. Stifel Nicolaus lowered shares of Zoetis from a “buy” rating to a “hold” rating and dropped their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. UBS Group dropped their target price on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Leerink Partnrs cut shares of Zoetis from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Piper Sandler lifted their price objective on Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Finally, Leerink Partners downgraded Zoetis from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $180.00 to $155.00 in a research note on Thursday, July 17th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.43.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of Zoetis 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.