Bowen Hanes & Co. Inc. Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Bowen Hanes & Co. Inc. lowered its holdings in Zoetis Inc. (NYSE:ZTS) by 84.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,131 shares of the company’s stock after selling 179,357 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Zoetis were worth $5,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its position in Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Rakuten Securities Inc. boosted its position in Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Zoetis in the third quarter worth $31,000. Dunhill Financial LLC boosted its position in Zoetis by 80.6% in the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in Zoetis in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $161.74 on Thursday. The firm has a market capitalization of $72.43 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $166.92 and its two-hundred day simple moving average is $176.44. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, equities analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. Zoetis’s dividend payout ratio is currently 36.56%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZTS shares. Piper Sandler boosted their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Barclays upped their price target on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group started coverage on Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. Leerink Partners started coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price target on the stock. Finally, Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average price target of $215.90.

Insiders Place Their Bets

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This represents a 9.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock worth $312,254 in the last ninety days. 0.16% of the stock is currently owned by insiders.

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.