Holderness Investments Co. Raises Stake in Zoetis Inc. (NYSE:ZTS)

Holderness Investments Co. grew its stake in shares of Zoetis Inc. (NYSE:ZTS) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,663 shares of the company’s stock after purchasing an additional 950 shares during the quarter. Holderness Investments Co.’s holdings in Zoetis were worth $760,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Zoetis in the third quarter worth about $31,000. Dunhill Financial LLC lifted its stake 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 acquiring an additional 75 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its stake 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 acquiring an additional 140 shares during the period. Rakuten Securities Inc. lifted its stake 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 acquiring an additional 166 shares during the period. Finally, Quarry LP lifted its stake in Zoetis by 45.9% in the third quarter. Quarry LP now owns 305 shares of the company’s stock worth $60,000 after acquiring an additional 96 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Willie M. Reed sold 1,210 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is owned by company insiders.

Zoetis Stock Performance

ZTS opened at $163.15 on Friday. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.33. 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 company has a market cap of $73.06 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The firm’s 50-day moving average price is $166.77 and its 200-day moving average price is $175.67.

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

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.23%. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group began coverage on shares of Zoetis in a research report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target for the company. Piper Sandler increased their price target on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Barclays increased their price target on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $215.90.

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.