Gateway Investment Advisers LLC Lowers Position in Zoetis Inc. (NYSE:ZTS)

Gateway Investment Advisers LLC cut its holdings in Zoetis Inc. (NYSE:ZTS) by 5.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,644 shares of the company’s stock after selling 100 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Zoetis were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ZTS. Mutual Advisors LLC lifted its position in shares of Zoetis by 4.0% during the third quarter. Mutual Advisors LLC now owns 3,195 shares of the company’s stock valued at $556,000 after buying an additional 122 shares during the last quarter. Mather Group LLC. lifted its position in shares of Zoetis by 2.0% during the third quarter. Mather Group LLC. now owns 3,638 shares of the company’s stock valued at $633,000 after buying an additional 73 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Zoetis by 16.4% during the third quarter. Synovus Financial Corp now owns 20,286 shares of the company’s stock valued at $3,530,000 after buying an additional 2,861 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Zoetis by 25.5% during the third quarter. Tower Research Capital LLC TRC now owns 19,388 shares of the company’s stock valued at $3,373,000 after buying an additional 3,938 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Zoetis by 1.2% during the third quarter. Bank of Nova Scotia now owns 135,266 shares of the company’s stock valued at $23,532,000 after buying an additional 1,643 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Trading Up 1.8 %

Shares of NYSE:ZTS opened at $170.94 on Thursday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm has a market capitalization of $78.00 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The business’s 50 day moving average price is $167.30 and its 200-day moving average price is $179.00.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.01%. Zoetis’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZTS. Stifel Nicolaus decreased their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group cut their price target 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. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. Barclays cut their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, HSBC cut their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $211.75.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 923 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares in the company, valued at approximately $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.