NorthCrest Asset Manangement LLC Trims Stock Position in Zoetis Inc. (NYSE:ZTS)

NorthCrest Asset Manangement LLC trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,140 shares of the company’s stock after selling 178 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Zoetis were worth $4,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ZTS. Webster Bank N. A. raised its holdings in Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in Zoetis during the 4th quarter worth approximately $33,000. Gladius Capital Management LP purchased a new position in shares of Zoetis during the 4th quarter worth approximately $40,000. Neo Ivy Capital Management purchased a new position in shares of Zoetis during the 4th quarter worth approximately $40,000. Finally, LRI Investments LLC acquired a new stake in shares of Zoetis in the 1st quarter valued at approximately $43,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZTS shares. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Stifel Nicolaus upped their price target on shares of Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a report on Friday, August 9th. The Goldman Sachs Group decreased their price objective on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Barclays dropped their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis presently has an average rating of “Buy” and an average price target of $215.44.

Zoetis Price Performance

NYSE:ZTS traded down $4.34 during mid-day trading on Wednesday, hitting $184.04. 323,346 shares of the company’s stock traded hands, compared to its average volume of 2,760,759. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The company has a market cap of $83.98 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86. The firm’s 50 day simple moving average is $177.34 and its 200 day simple moving average is $175.26. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $1.41 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Zoetis Inc. will post 5.84 EPS for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 annualized dividend and a dividend yield of 0.94%. Zoetis’s dividend payout ratio is currently 33.14%.

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.